OFAC sanctions eight Canadian money services firms for Iran-linked digital-asset transfers

Published Fri, 06 Nov 2026 00:00:00 UTC · Updated Sat, 07 Nov 2026 14:10:00 UTC · Edited by Bizzle · AI-assisted

⚪NeutralExpanded OFAC designations on Canadian money services firms tied to Iran-linked crypto transfers tighten sanctions exposure for named facilitators without a clear directional read on major liquid crypto assets.News sentiment, not financial advice. It reflects the likely impact of this news, not a price prediction.

Summary

The U.S. Treasury’s Office of Foreign Assets Control on Nov. 6 designated eight Canada-based money services businesses that it says facilitate exchanging Iranian rials and other currencies for digital assets and enable international transactions involving Iran, according to a Treasury press release and Cointelegraph.

Treasury said the firms—Diverse Trade Inc (Million Exchange), 1380079 BC Limited and Top PC Technician Inc (Amin Exchange), NIA Nations Currency Ltd, 2397639 Ontario Ltd (Farah Exchange), CCC Inc, B Galaxy Inc (Cryptoyal), and Darvish Exchange—have dealt with sanctioned Iranian digital-asset exchanges and, in some cases, addresses linked to Iran’s Islamic Revolutionary Guard Corps, and that several also worked with OFAC-sanctioned Canadian drug trafficker Ryan Wedding.

The designations were issued under Executive Order 13902 as part of Operation Economic Outcast, coordinated with FinCEN, Canada’s FINTRAC, and the DEA; Treasury said property of the designated persons in the United States or held by U.S. persons is blocked, and Cointelegraph separately noted a Rewards for Justice offer of up to $20 million for information on Iran’s nuclear program announced the same day.

Key facts

U.S. Treasury (Nov. 6, 2026): OFAC designated eight Canadian money services businesses under E.O. 13902 for operating in Iran’s digital-asset sector—facilitating rial/other-currency exchanges into digital assets for Iran-linked international transfers. (U.S. Treasury)
Treasury: Named targets are Million Exchange (Diverse Trade Inc); Amin Exchange (1380079 BC Limited and Top PC Technician Inc); NIA Nations Currency Ltd; Farah Exchange (2397639 Ontario Ltd); CCC Inc; Cryptoyal (B Galaxy Inc); and Darvish Exchange. (U.S. Treasury)
Treasury: Many targets allegedly transacted with previously sanctioned Iranian exchanges (including Nobitex, Wallex, Bitpin, Ramzinex, Aban Tether, Shelbit) and/or IRGC-linked digital-asset addresses; several also allegedly laundered drug proceeds for Ryan Wedding via cash-to-crypto conversion. (U.S. Treasury)
Treasury: Action is part of Operation Economic Outcast (launched August), coordinated with FinCEN, FINTRAC and DEA; builds on June 2 and Aug. 7, 2026 Iranian exchange designations. (U.S. Treasury)
OFAC recent actions (Nov. 6): Published Iran-related designations listing the same eight Canadian entities with digital-currency addresses and Canadian MSB registration details. (OFAC)
Cointelegraph: Cited Treasury that Canada cannot be a safe haven for illicit facilitators; also reported a same-day Rewards for Justice offer of up to $20 million (and possible relocation) for information about Iran’s nuclear program. (Cointelegraph)