Shafaq News- Washington

The US Treasury Department on Friday announced sanctions against eight Canadian money services businesses accused of helping Iran evade US restrictions through cryptocurrency transactions and international money transfers.

The Treasury’s Office of Foreign Assets Control (OFAC) said the companies facilitated exchanges of Iranian rials and other currencies into digital assets, with several conducting transactions involving sanctioned Iranian cryptocurrency exchanges and digital asset addresses linked to the Islamic Revolutionary Guard Corps (IRGC).

The sanctions targeted Million Exchange, two companies operating as Amin Exchange, NIA Nations Currency, Farah Exchange, CCC Inc, B Galaxy Inc —which operates as Cryptoyal— and Darvish Exchange.

The Treasury also accused several of the businesses of laundering drug proceeds linked to Canadian former Olympic snowboarder Ryan Wedding, who was taken into US custody in January 2026. The measures were coordinated with US and Canadian financial intelligence authorities and the Drug Enforcement Administration (DEA).

Under the sanctions, the companies’ assets subject to US jurisdiction are frozen, and US persons are generally prohibited from conducting transactions with them.

On October 21, the Treasury Department sanctioned five individuals and four companies and identified nine vessels as blocked property.