Washington: The US Department of the Trecasury has imposed strict financial sanctions on eight Canadian-based money services businesses (MSBs), which according to American officials were facilitating the transfer of Iranian rials into other currencies and digital assets, including Bonk crypto tokens.
According to the statement issued by the Ministry of Finance, these Canadian firms backed a number of international financial transactions that were linked to Iranian entities and crypto-wallets subject to US sanctions.
These new sanctions are part of a broader US strategy aimed at preventing Iran from accessing financial facilities derived from illegal digital and crypto sources other than traditional banking. Officials further revealed that during the past period, several of these companies had also changed their names and addresses to avoid the eyes and grip of American agencies.
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