Crypto exchanges sanctioned alongside Iranian officials in Trump administration’s Iran crackdown

The U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctioned two UK-registered cryptocurrency exchanges, Zedcex and Zedxion, marking the first time entire digital asset platforms have been blacklisted under Iran-specific financial sanctions. These exchanges are accused of processing funds for the Islamic Revolutionary Guard Corps (IRGC), which the U.S. classifies as a terrorist organization. The sanctions also targeted Iranian financier Babak Morteza Zanjani, who allegedly laundered money for the regime after his death sentence was commuted. Treasury Secretary Scott Bessent stated the action targets networks exploiting digital assets to evade sanctions. Reports indicate Zedcex processed over $94 billion in transactions since 2022, with both exchanges handling significant IRGC-linked volumes, primarily via USDT on Tron. The crackdown also included sanctions against senior Iranian officials overseeing security forces involved in suppressing protests.

(Source：The Block)