US, Canada sanction eight money service firms over links to Iran
The sanctions effectively cut the firms off from the dollar-based financial system, blocking any assets that the firms may have in the United States.
The US Treasury has imposed financial sanctions on eight money services firms based in Canada, alleging they have facilitated transactions with sanctioned Iranian entities. The US and Canada have jointly sanctioned eight digital asset service providers, cutting them off from the dollar-based financial system. These firms include Diverse Trade Inc, 1380079 BC Limited, Top PC Technician Inc, NIA Nations Currency Ltd, Farah Exchange, CCC Inc, B Galaxy Inc, and Darvish Exchange.
The sanctions are part of a series of actions by the Treasury targeting firms outside the US that allegedly assist Iran in evading sanctions. Secretary of the Treasury Scott Bessent stated that Canada cannot be a safe haven for illicit financial facilitators providing services to the Iranian regime and its proxies. Additionally, the Treasury's Financial Crimes Enforcement Network has issued an order cutting off virtual currency exchange MEXC Global from the US financial system, citing transactions linked to sanctions evasion by Iran, North Korea, and Russia.
Written by urgent.news from Jerusalem Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
