related Designations | Office of Foreign Assets Control

The U.S. Treasury’s Office of Foreign Assets Control designated eight Canadian money-services businesses—including 1380079 BC Ltd. (Amin Exchange), 2397639 Ontario Ltd. (Farah Exchange), B Galaxy Inc. (C Exchange/Cryptoyal), CCC Inc. (C Exchange/Sarafi C), Darvish Exchange and Diverse Trade Inc. (Million Exchange)—under Executive Order 13902, which targets Iran-related entities and carries secondary-sanctions risk. The designations cover exchange offices concentrated in North Vancouver, Montreal, Toronto, North York, Richmond Hill and Thornhill, and each listing includes associated TRON digital-currency addresses tied to the businesses. The action matters because it exposes non-U.S. banks and counterparties to potential U.S. penalties for dealings with the named firms, tightening the compliance perimeter around Canada’s Iranian diaspora remittance and currency-exchange corridor. What to watch next is whether the exchanges contest or wind down operations, how Canadian banks and payment processors adjust counterparty exposure, and whether OFAC extends the campaign to additional North American money-services businesses.