US sanctions Canadian money-exchange firms over Iran ties
Summary
The US Treasury sanctioned eight Canadian money-service companies, alleging they helped Iranian entities exchange rials and other currencies for digital assets and facilitated transactions involving sanctioned Iranian exchanges and addresses linked to the IRGC. The measures aim to cut the firms off from the dollar-based financial system. Treasury said the action was coordinated with Canada’s FINTRAC and noted that some firms had changed names and addresses to evade detection. The sanctions continue a broader US campaign to disrupt Iran’s use of digital assets to fund its regime and affiliated groups.
