US sanctions eight Canadian money-exchange firms over Iran ties
Briefing by News4U · First published
The US Treasury on Friday sanctioned eight Canadian money-exchange businesses in Ontario and British Columbia, including Million Exchange, Amin Exchange and Cryptoyal, for providing financial services to sanctioned Iranian entities and, in three cases, laundering proceeds for alleged drug-trafficking head Ryan Wedding. The sanctions cut the firms off from the US dollar-based financial system, freezing any US assets and barring transactions with American people or entities. Treasury Secretary Scott Bessent said Canada cannot be a safe haven for illicit financial facilitators that provide sanctions evasion services to the Iranian regime and its proxies. [1] [2] [3]
Sources
- U.S. sanctions Canadian money-exchange businesses allegedly connected to Iranian regime, Ryan Wedding
CBC World · · Full text
- US Treasury sanctions eight Canadian money exchange firms over Iran ties
Al Jazeera · · Full text
- US sanctions Canadian money-exchange firms over Iran ties
Cointelegraph · · Full text