US Sanctions Eight Canadian Companies Linked to Iranian Digital Asset Trading
TechFlow reported on November 7 that, according to an announcement by the U.S. Department of the Treasury, its Office of Foreign Assets Control (OFAC) sanctioned eight Canadian money service businesses on November 6 for converting Iranian rials and other currencies into digital assets to facilitate international transactions involving Iran.The Treasury stated that several of the firms had previously conducted transactions with sanctioned Iranian digital asset exchanges and addresses associated with the Islamic Revolutionary Guard Corps. This action was taken pursuant to Executive Order 13902, targeting the companies' operations in the digital asset sector of Iran's economy.
TechFlow reported on November 7 that, according to an announcement by the U.S. Department of the Treasury, its Office of Foreign Assets Control (OFAC) sanctioned eight Canadian money service businesses on November 6 for converting Iranian rials and other currencies into digital assets to facilitate international transactions involving Iran.
The Treasury stated that several of the firms had previously conducted transactions with sanctioned Iranian digital asset exchanges and addresses associated with the Islamic Revolutionary Guard Corps. This action was taken pursuant to Executive Order 13902, targeting the companies' operations in the digital asset sector of Iran's economy.
