Catenaa, Sunday, February 01, 2026- The US Treasury on Friday imposed sanctions on two cryptocurrency exchanges registered in the United Kingdom, marking the first time entire digital asset platforms have been blacklisted under Iran-related financial authorities.
The Office of Foreign Assets Control said Zedcex and Zedxion processed transactions linked to Iran’s Islamic Revolutionary Guard Corps, which the US and EU designate as a terrorist organization.
The action forms part of a broader crackdown by the Trump administration on Iran’s financial networks and sanctions evasion activity.
Treasury also sanctioned Iranian financier Babak Morteza Zanjani, accusing him of funding projects connected to the IRGC after his release from prison.
US officials said Zanjani had previously embezzled billions of dollars in oil revenue and was freed following a commuted death sentence in 2024.
According to Treasury data, Zedcex has handled more than $94 billion in transactions since its registration in August 2022. Both exchanges were found to have processed large volumes of funds for counterparties tied to the IRGC.
Blockchain analytics firm TRM Labs reported that the two platforms processed about $1 billion in IRGC-linked transactions since 2023, accounting for more than half of their total volume. Most of the activity moved through the stablecoin USDT on the Tron blockchain.
The sanctions expand prior US actions that targeted individual crypto wallets and technology providers involved in sanctions evasion. Treasury officials said digital assets have become an increasing focus as Iran seeks alternative channels to move funds.
The announcement also included sanctions against senior Iranian officials overseeing security forces accused of violent crackdowns on protesters. Treasury said more than 875 individuals, vessels and aircraft linked to Iran’s evasion networks were sanctioned during 2025. US persons are prohibited from engaging in transactions with sanctioned entities.
