OFAC sanctions eight Canadian crypto exchanges over Iran digital asset sector

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has blocked the property and interests in property of eight Canada-registered financial firms for operating in the digital asset sector of the Iranian economy. The determination was issued on 6 November 2026 under section 1(a)(i) of Executive Order 13902 and published in the Federal Register of 12 November 2026 (Vol. 91, No. 217, p. 72958, FR Doc. 2026–23009), signed by OFAC Director Bradley T. Smith.

The legal basis is E.O. 13902 of 10 January 2020, “Imposing Sanctions With Respect to Additional Sectors of Iran” (85 FR 2003, 3 CFR, 2020 Comp., p. 299), the instrument through which Washington extends sectoral blocking authority to the Iranian economy beyond the nuclear file. The notice states that all property and interests in property of the named firms that are subject to U.S. jurisdiction are blocked, and that U.S. persons are generally prohibited from engaging in transactions with them. It adds that the SDN List and further information on the sanctions programmes are available on OFAC’s website, and directs affected parties to the office’s licensing and compliance contacts.

All eight targets are entities, not individuals, and all are registered in Canada — in North York, Richmond Hill, Thornhill and Toronto (Ontario), North Vancouver and Vancouver (British Columbia), and Montreal (Quebec). Each is described as engaged in “other monetary intermediation”, and most carry Canadian money services business (MSB) registration numbers alongside federal or provincial company numbers.

The eight designated firms

• 1380079 BC LTD, also known as AMIN EXCHANGE VANCOUVER and SARAFI AMIN, of North Vancouver, British Columbia, and Montreal, Quebec; website aminexchange.ca.
• 2397639 ONTARIO LTD, also known as FARAH EXCHANGE, of 6039 Yonge St, North York, Ontario; established 27 November 2013.
• B GALAXY INC, also known as C EXCHANEG, CRYPTOYAL and “C EXCHANGE”, of North York and Thornhill, Ontario; website cryptoyal.net.
• CCC INC, also known as CCURRENCY EXCHANGE, CRYPTOYAL, SARAFI C, “C EXCHANGE”, “PARSIS EXCHANGE”, “SALAM EXCHANGE” and “SARAFI CAPITAL”, of North York, Ontario; websites sarafic.com and cryptoyal.net.
• DARVISH EXCHANGE, also known as KANATA MD INC and “CANADA EXCHANGE”, of Richmond Hill and North York, Ontario; website darvishexchange.com.
• DIVERSE TRADE INC, also known as MILLION EXCHANGE, MILLION MONEY EXCHANGE and MILLIONEX, of Richmond Hill, Toronto and Montreal; website millionex.ca.
• NIA NATIONS CURRENCY LTD, also known as NIA EXCHANGE, NIA NATIONS CURRENCY EXCHANGE and NIA NATIONS EXCHANGE, of Vancouver and North Vancouver, British Columbia; website nnce.ca.
• TOP PC TECHNICIAN INC, also known as 2840711 ONTARIO INC, AMIN EXCHANGE TORONTO and AMINEX TORONTO, of North York and Thornhill, Ontario.

Digital currency addresses published for screening

Treasury attached TRX-prefixed digital currency addresses to four of the entries, giving payment processors and exchanges identifiers for blockchain screening:

• 1380079 BC LTD: three addresses, including TLyRLCNwBhaXkYak1bTFUYTj72crbgN5Vy.
• 2397639 ONTARIO LTD: TW5NEaaoPHXC1rt5PaYgG474gQ49oiZ2F5.
• CCC INC: TCreRMzGspdHNEkqkasejS6xTzqXNkYJJZ.
• DIVERSE TRADE INC: TJHZswisiMgjioAVpmpMSWXCeQGCPjcTMK.

Registration data is also spelled out, including MSB numbers M23258996 for 1380079 BC LTD, M19648033 for 2397639 Ontario Ltd, N300001022 for B Galaxy Inc, N300000785 for CCC Inc, N300000169 for Darvish Exchange, M19315656 for Diverse Trade Inc, M21153461 for Nia Nations Currency Ltd and M21487848 for Top PC Technician Inc.

Secondary sanctions exposure

Every entry in the notice carries the same warning: “Secondary sanctions risk: See Section 2 of E.O. 13902”. That clause is the operative threat for third parties, because it allows the United States to designate non-U.S. persons that materially transact with the blocked exchanges. For Canadian and other foreign operators in the same corridor, the practical effect is that onboarding, correspondent banking and settlement relationships with any of these eight brands now carry a designation risk independent of any U.S. nexus.

The designation shows how the Treasury is treating Iranian retail currency exchange networks operating out of the Toronto and Vancouver suburbs as part of a single digital asset channel. The addresses published alongside the names turn the measure into an operational screening obligation rather than a purely political signal, and the secondary sanctions clause extends the exposure well beyond U.S. borders.

Source: Federal Register, Vol. 91, No. 217, 12 November 2026, Notices, p. 72958 (official reference: FR Doc. 2026–23009; E.O. 13902).