# US Treasury sanctions eight Canadian money exchange firms over Iran ties

- URL: https://talkfuse.com/story/us-treasury-sanctions-eight-canadian-money-exchange-firms-over-iran-ties/
- Published: 2026-11-07T04:50:46+00:00
- Updated: 2026-11-07T06:23:30+00:00
- Original publisher: Al Jazeera (publisher lean: Left)
- Original article: https://www.aljazeera.com/economy/2026/11/7/us-treasury-sanctions-eight-canadian-money-exchange-firms-over-iran-ties?traffic_source=rss
- Topics: Americas, Geopolitics, Health, Medicine, Middle East, Politics, World

## Key points

- The US sanctioned eight Canadian currency exchange firms over alleged Iran links.
- The measures freeze US assets and restrict transactions with US persons.
- The US separately accused MEXC Global of facilitating at least $16bn in illicit transactions.

## Summary

The US has sanctioned eight Canadian currency exchange businesses accused of helping Iranian entities evade financial restrictions. The measures aim to cut off alleged channels supporting Iran’s government and its proxies, and could prevent the firms from accessing US dollar-based finance.

The US Treasury said the businesses operate in Ontario and British Columbia and named Million Exchange, Amin Exchange and Cryptoyal. It accused some of converting Iranian rials and other currencies into cryptocurrency to launder proceeds, and said some had helped an alleged drug trafficking ring. Canada’s FINTRAC said it worked with the US financial intelligence agency on the sanctions. Separately, the US said MEXC Global had facilitated at least $16bn in illicit transactions linked to Iran, North Korea and Russia.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.