US Treasury cracks down on Iran-linked money networks, sanctions Canadian firms
AI summary
The US Treasury sanctioned eight Canadian money services firms for facilitating illicit transactions with Iran and barred cryptocurrency platform MEXC Global from the US financial system. These actions target sanctions evasion networks and are part of Operation Economic Outcast to disrupt Iranian financial channels.
Key takeaways
- Eight Canadian firms were sanctioned for facilitating transactions with sanctioned Iranian entities.
- MEXC Global was barred from the US system for processing $16 billion in illicit transactions.
- The measures target digital asset exchanges used to evade US sanctions.
- These actions are part of Operation Economic Outcast to disrupt Iranian finance.
Read the original at Times of India
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