regulation
OFAC blocks eight Canadian money firms under Operation Economic Outcast, lists six Tron addresses
Treasury's OFAC designated eight Canadian MSBs on November 6 under E.O. 13902 for moving crypto to sanctioned Iranian exchanges, naming six Tron addresses.
The U.S. Treasury's Office of Foreign Assets Control designated eight Canada-based money services businesses on November 6, 2026 under Executive Order 13902, blocking their U.S.-reachable assets and generally barring U.S. persons from dealing with them. The action is the latest round of Operation Economic Outcast, OFAC's August 2026 campaign against the Iranian digital-asset ecosystem, and ran the same day as a separate FinCEN order cutting MEXC off from the U.S. financial system. OFAC's release is on home.treasury.gov; TRM Labs and The Defiant carry the specifics.
What happened
Treasury added the following Canadian firms to the SDN List under the Iran digital-asset sector authority of E.O. 13902:
- Diverse Trade Inc (dba Million Exchange), Ontario
- 1380079 BC Limited (dba Amin Exchange), British Columbia
- Top PC Technician Inc (Amin Exchange affiliate), Ontario
- NIA Nations Currency Ltd, British Columbia
- 2397639 Ontario Ltd (dba Farah Exchange), Ontario
- CCC Inc, Ontario
- B Galaxy Inc (dba Cryptoyal), Ontario
- Darvish Exchange, Ontario
Per OFAC, the MSBs converted Iranian rials and other currencies into crypto and moved funds to or from previously sanctioned Iranian exchanges — among them Nobitex, Wallex, Bitpin and Ramzinex (designated June 2, 2026) and Aban Tether Exchange and SHPS Shelbit (designated August 7, 2026) — on behalf of IRGC-linked users. FinCEN, Canada's FINTRAC and the DEA coordinated the action; OFAC also flagged that several designees allegedly laundered proceeds for sanctioned drug trafficker Ryan Wedding.
The addresses
OFAC listed six Tron (TRX) addresses in the SDN entries, tied to four of the eight designees:
- Amin Exchange:
TLyRLCNwBhaXkYak1bTFUYTj72crbgN5Vy,THauYJJEaFGLpEknoKnYmXmT5TCeQGKjDE,TJT3JZKJWVHVkKRKSmWmg5UYHhAqBM7mfP - Farah Exchange:
TW5NEaaoPHXC1rt5PaYgG474gQ49oiZ2F5 - CCC Inc:
TCreRMzGspdHNEkqkasejS6xTzqXNkYJJZ - Million Exchange:
TJHZswisiMgjioAVpmpMSWXCeQGCPjcTMK
The entries carry a secondary-sanctions warning under Section 2 of E.O. 13902; OFAC points counterparties to its FAQs 1250 and 1257. Addresses can be checked on Tronscan.
What it means for infrastructure
Tether and other centralized stablecoin issuers typically freeze USDT balances at SDN-listed addresses shortly after an OFAC action — the same pattern seen with the June Iranian exchange designations and the July IRGC-linked freezes. Any VASP or OTC desk that touched these addresses after today's listing is exposed under E.O. 13902 Section 2 even without a direct U.S. nexus; the secondary-sanctions warning is the point of the publication, not a side note.
Action checklist
- Screen counterparty flows against the six addresses above and the eight designated entities; add to internal SDN blocklists today.
- Review transaction history for inbound or outbound transfers to those Tron addresses between the June 2, 2026 Iranian exchange designations and today; report hits to FinCEN and local FIUs as required.
- If you operate in Canada, check FINTRAC guidance for licensed MSBs — the designations imply corresponding domestic enforcement.
- Expect additional secondary sanctions warnings against counterparties still routing to Amin Exchange, Farah Exchange, CCC Inc or Million Exchange after today.
Context
This is the third major Operation Economic Outcast tranche in six months: Iran-based exchanges in June, OFAC-named crypto exchanges Aban Tether and Shelbit in August, and now Canadian MSB middle-men. The campaign's geographic walk — from Iran-domiciled platforms to counter-party cash-out layers in third countries — mirrors the enforcement path OFAC took earlier against Russian darknet-linked networks. See our earlier coverage of the A7/A7A5 network designation and the morning note on the MEXC Section 9714 order.