US Sanctions Eight Canadian Money Services Businesses Over Iran Links

06:46 PM EST, 11/06/2026 (MT Newswires) -- The US Treasury Department sanctioned eight Canadian money services businesses for allegedly helping Iran evade sanctions by facilitating currency exchanges and digital asset transfers, the department said Friday. The businesses allegedly handled transactions involving sanctioned Iranian cryptocurrency exchanges and digital asset addresses linked to Iran's Islamic Revolutionary Guard Corps. Several also allegedly laundered drug proceeds for Canadian trafficker Ryan Wedding, Treasury said. The designations block any US-held assets belonging to the entities and generally prohibit US persons from conducting transactions with them without authorization. The action was coordinated with Canadian financial intelligence agency FINTRAC and the Drug Enforcement Administration.