US Sanctions Iran-Linked Crypto Exchanges in Historic First
The US Treasury sanctions Iran-linked crypto exchanges, marking the first direct action against crypto platforms under Iran sanctions.
- US sanctions two crypto exchanges tied to Iran’s financial system
- First time US directly targets crypto platforms under Iran sanctions
- Exchanges linked to IRGC and sanctions evasion efforts
Sanctions Hit Crypto: A Major Policy Shift
In a groundbreaking move, the U.S. Treasury Department has sanctioned two Iran-linked crypto exchanges, marking the first time the U.S. government has directly targeted digital asset platforms as part of its Iran sanctions program.
The exchanges, Zedcex Exchange Ltd. and Zedxion Exchange Ltd., were identified by the Office of Foreign Assets Control (OFAC) as facilitating financial activities for Iran’s Islamic Revolutionary Guard Corps (IRGC). Both platforms are registered in the UK and have reportedly processed crypto transactions to aid sanctions evasion.
This is a significant policy evolution. Until now, OFAC had only gone after individual wallet addresses or intermediary facilitators. By sanctioning entire platforms, the U.S. is sending a strong message that crypto is no longer beyond the reach of global enforcement.
Ties to Iran’s Financial Network
According to Treasury officials, the sanctioned exchanges helped transfer digital assets used by IRGC-linked actors and Iranian officials under existing sanctions. These platforms utilized the Tron (TRX) blockchain network and were associated with seven identified wallets, all of which are now under OFAC restrictions.
The action also coincides with a wider crackdown involving Iranian interior ministry officials and figures like Babak Zanjani, an Iranian financier with a long history of sanctions evasion.
What It Means for the Crypto Industry
This move could significantly alter the compliance landscape for crypto exchanges globally. Platforms that serve high-risk regions or fail to implement proper KYC/AML measures may come under increasing scrutiny. The sanctions also emphasize the role of blockchain analytics firms in helping governments trace illicit financial activity.
By officially naming and sanctioning Iran-linked crypto exchanges, the U.S. is setting a precedent. It’s a warning to others in the industry: facilitating transactions for sanctioned entities — even indirectly — could lead to devastating consequences.
Read Also:
- ZKP Crypto Gains Investor Attention With $5 Million Giveaway and Presale Auction While Solana & AVAX Lose Steam
- US Sanctions Iran-Linked Crypto Exchanges in Historic First
- What Is Zero Knowledge Proof (ZKP)? Earn Daily with Proof Pods in the Season’s Top Crypto to Buy!
- Bitcoin ETF Outflows Hit $1.48B in a Week
- Crypto Market Sheds $480B Since Mid-January
