I am fairly sure that there is no formal way to send money from United States to Iran or North Korea by an individual or even a business without special government authorization.

Happy to be proven wrong if there ways to send/receive money to countries via banks today.

When we say North Korean or Iran we generally don’t mean people with those ethnic background[1] or even citizenship who have legal, physical and banking presence outside[2] these countries. We typically mean legal entities (both individuals and businesses) who are present within these regimes

Are they sanctions perfect ? Of course not, but they are still far better than what crypto exchanges do today

[1] that would be racist that is not the purpose of those sanctions

[2] the governments of these other geographies persumably have controls and oversight into these people