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BTCC / BTCC Square / Global Cryptocurrency /
OFAC Sanctions Crypto Exchanges Linked to Iran’s Financial Operations

OFAC Sanctions Crypto Exchanges Linked to Iran’s Financial Operations

Author:
Global Cryptocurrency
Published:
2026-01-31 09:39:01
19
2
BTCCSquare news:

The U.S. Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on two cryptocurrency exchanges, Zedcex Exchange Ltd. and Zedxion Exchange Ltd., for their ties to Iran's financial sector. These platforms allegedly facilitated transactions for the Islamic Revolutionary Guard Corps (IRGC), marking the first time OFAC has targeted crypto exchanges operating in Iran.

Zedcex, registered in August 2022, has processed over $94 billion in transactions. Zedxion, established in May 2021, initially listed Iranian businessman Babak Morteza Zanjani as a director. Both exchanges are accused of aiding Iran in evading sanctions and laundering funds for state interests.

Zanjani, previously designated by OFAC in 2013 for financial ties to the IRGC, was delisted in 2016 under the Joint Comprehensive Plan of Action (JCPOA). His reappearance in this context underscores the persistent challenges in enforcing sanctions through the crypto ecosystem.

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