World
US Treasury sanctions eight Canadian money exchange firms over Iran ties
The US Treasury has sanctioned eight Canadian currency-exchange businesses accused of helping Iranian entities evade financial sanctions under "Operation Economic Outcast." The Treasury said some firms converted Iranian rials into cryptocurrency and assisted an alleged drug trafficking ring leader; FINTRAC confirmed it worked with FinCEN on the measures. Separately, FinCEN issued an order targeting Seychelles-incorporated MEXC Global over at least $16bn in illicit transactions linked to Iran, North Korea and Russia.