The U.S. Treasury sanctioned eight Canada-based money services businesses on November 6, including NIA Nations, Million Exchange, Amin Exchange and Farah Exchange, saying they facilitated cross-border transactions involving Iran through digital assets. Treasury said several of the firms transacted with sanctioned Iranian crypto exchanges or addresses linked to the IRGC, while some also helped launder drug proceeds for Canadian trafficker Ryan Wedding by converting cash into digital assets and sending the funds abroad.Blockchain investigator ZachXBT said he had publicly called for sanctions against Iran-linked OTC brokers in Canada five months earlier.
