Farah Exchange
Canadian money services business (2397639 Ontario Ltd) designated by US Treasury.
Farah Exchange, a North York currency dealer, has been under US sanctions since 6 November 2026. Treasury ties it to the Iranian crypto platforms Shelbit and Wallex and to addresses linked to Ryan Wedding.
Last refreshed: 8 November 2026 · Appears in 1 active topic
Can a US blacklist shut a Toronto currency exchange that is still open?
Timeline for Farah Exchange
US blacklists eight exchangers in Canada
Iran Conflict 2026Background
Farah Exchange is the trading name of 2397639 Ontario Ltd, incorporated on 27 November 2013 and based in North York, according to OFAC's listing. OFAC put it on the sanctions list on 6 November 2026 under Executive Order 13902, the order aimed at Iran's digital asset trade.
Treasury says Farah markets itself as an Iranian exchange for foreign currency and digital assets. By its account, an address linked to The Firm traded hundreds of thousands of dollars with Shelbit and Wallex, two sanctioned Iranian platforms. The same address sent millions of dollars to addresses tied to Ryan Wedding, whom Treasury describes as a Canadian drug trafficker.
FINTRAC, Canada's financial intelligence unit, coordinated the listing with Washington. Treasury says Farah, like the other Canadian dealers named alongside it, was still open for business when designated.
Why was Farah Exchange sanctioned?
What is 2397639 Ontario Ltd?
Is Farah Exchange still operating?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 8 November 2026. Editorial standards.