U.S. Treasury Sanctions 8 Canadian Crypto Services Firms Over Iran Links, Offers Up to $20M Bounty

According to the U.S. Treasury, on November 7, the department sanctioned 8 Canadian money services companies for facilitating transactions with Iranian entities and digital asset exchanges linked to Iran's Islamic Revolutionary Guard Corps (IRGC). The sanctions restrict these firms' access to the U.S. dollar financial system. Some companies had attempted to evade detection by changing names and addresses, with enforcement coordinated with Canada's Financial Transactions and Reports Analysis Centre (FINTRAC).

The U.S. Treasury also announced a bounty of up to $20 million through its "Rewards for Justice" program for information about Iran's nuclear program facilities, equipment, and personnel, with possible relocation assistance offered.

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