US Treasury sanctions eight Canadian money-services businesses over alleged Iran links
The US Treasury announced sanctions on eight Canadian money-services businesses on 6 November, alleging that they helped Iranian sanctioned entities move value through currency exchange and digital assets.
The designations name Million Exchange, 1380079 BC Limited, Top PC Technician Inc, NIA Nations, Farah Exchange, CCC Inc, B Galaxy Inc and Darvish Exchange. Treasury says the action was coordinated with FinCEN, Canada's FINTRAC and the US Drug Enforcement Administration.
Treasury alleges that several of the businesses transacted with sanctioned Iranian crypto exchanges or addresses associated with the Islamic Revolutionary Guard Corps. It also alleges links between some of the businesses and drug proceeds. These are the agency's stated grounds for designation, not independent findings by this publication.
This is a separate set of named-entity sanctions from the MEXC transfer order covered this morning, although both sit within Operation Economic Outcast. The development concerns specific intermediaries and their alleged activity; it does not establish wrongdoing by Canadian money-services businesses generally.
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Opens the community invite. Paste the story link into the conversation; nothing is sent automatically.This is the 7 November 2026 edition. Facts may have developed since publication. Read the latest briefing →
