U.S. Sanctions Eight Canadian Businesses Over Alleged Iran Sanctions Evasion

The United States has imposed sanctions on eight money services businesses in British Columbia and Ontario, accusing them of helping Iran evade financial restrictions by transferring money and converting currencies into digital assets.

The U.S. Treasury Department alleges that several of the businesses conducted transactions with sanctioned Iranian cryptocurrency exchanges and digital wallets linked to Iran’s Islamic Revolutionary Guard Corps (IRGC).

The sanctioned businesses are:

Diverse Trade Inc., operating as Million Exchange (Ontario)

1380079 BC Limited, operating as Amin Exchange (B.C.)

Top PC Technician Inc. (Ontario)

NIA Nations Currency Ltd., also known as NIA Nations (B.C.)

2397639 Ontario Ltd., operating as Farah Exchange

CCC Inc. (Ontario)

B Galaxy Inc., operating as Cryptoyal (Ontario)

Darvish Exchange (Ontario)

The Treasury Department also alleges that several of these businesses helped Canadian drug trafficker Ryan Wedding launder drug proceeds by converting cash into digital assets and transferring the funds overseas. Wedding was arrested in Mexico in January 2026 and extradited to the United States.

The sanctions were coordinated with Canada’s financial intelligence agency, FINTRAC, the U.S. Financial Crimes Enforcement Network and the Drug Enforcement Administration.

Under the sanctions, the businesses’ assets and financial interests within the United States or controlled by U.S. persons are blocked. Violations of the restrictions could result in civil or criminal penalties.