Can I get into legal trouble by using a global exchange that is not "allowed" by Canadian regulators?

I'm wondering about the legal risks of using crypto exchanges like MEXC, KuCoin, or other global platforms that aren't officially registered or approved by Canadian regulators. Can I actually get into legal trouble for this, or is it more of a "use at your own risk" situation?

I know these exchanges aren't supposed to serve Canadian customers anymore and some have been ordered to stop operations here, but technically I can still access them. Is that illegal or just against the exchange's terms of service?

What are the actual consequences if regulators find out you're using these platforms? Would I face fines, tax issues, or criminal charges? Or is the bigger risk just that the exchange could freeze your account or you'd have no legal recourse if something goes wrong?

I'm trying to understand if this is genuinely illegal and risky, or if it's more like jaywalking where it's technically not allowed but nobody's actually getting prosecuted for it. Has anyone heard of Canadians facing legal consequences for using non-compliant exchanges?