On November 7, 2026, the United States Treasury placed financial sanctions on eight money-service businesses based in Canada. Officials asserted that these entities carried out transactions with sanctioned Iranian organizations.
Along with the enforcement measures, American authorities offered up to $20 million for information concerning Iran's nuclear program. The incentive package also includes possible relocation assistance for informants.
Crypto asset values showed widespread declines alongside the announcement, with Cardano dropping 5.75% to $0.1814 and Solana falling 1.61% to $89.58. Bitcoin registered a 0.22% drop to $75,776.83, while Stellar gained 0.18% to trade at $0.1512.
For traders holding perpetual contracts across Bitget, Bybit, MEXC, or OKX, these enforcement actions change nothing directly. Because the Treasury's measures target specific Canadian fiat entities rather than offshore crypto platforms, perpetual funding rates, fees, and market liquidity remain unaffected.
Source: cointelegraph — US sanctions Canadian money-exchange firms over Iran ties