U.S. Treasury Sanctions Cryptocurrency Exchanges Linked to Iran

Historic Sanction Measures

The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on two cryptocurrency exchanges, Zedcex Exchange and Zedxion Exchange, for their links to an Iranian businessman, marking the first such action of its kind.

Significant Financial Flows

Since its registration in August 2022, Zedcex has processed over $94 billion in transactions. Both platforms have also facilitated fund transfers for wallets associated with Iran's Islamic Revolutionary Guard Corps.

Expanded Sanction Scope

The sanctions have also been extended to several Iranian officials, including Interior Minister Eskandar Momeni Kalagari, who are accused of involvement in violent crackdowns within Iran.