Report
US Treasury sanctions eight Canadian money services firms over alleged Iran-linked transactions
The penalties freeze any US assets held by the firms and bar transactions with US people or entities.
TLDR
Treasury alleges the firms, based in Ontario and British Columbia, facilitated transactions with sanctioned Iranian entities. Separately, its financial crimes unit, FinCEN, barred US financial institutions from processing transfers involving cryptocurrency exchange MEXC Global. FinCEN alleges MEXC facilitated at least $16 billion in illicit transactions linked to Iran, North Korea and Russia.
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