On the 6th, the U.S. Treasury's Office of Foreign Assets Control (OFAC) designated eight Canada-based money services businesses (MSBs) as sanctioned entities for supporting the Iranian regime's sanction evasion. These firms facilitated exchanges between currencies such as the Iranian rial and cryptocurrencies, enabling international transactions involving Iran.
According to the Treasury, many of these firms conducted transactions with sanctioned Iranian cryptocurrency exchanges and addresses associated with the Islamic Revolutionary Guard Corps (IRGC)....