The U.S. Department of the Treasury sanctions the UK cryptocurrency exchanges Zedcex Exchange and Zedxion Exchange

ChainCatcher News, according to the U.S. Department of the Treasury, the Office of Foreign Assets Control (OFAC) has for the first time sanctioned two digital asset exchanges, Zedcex Exchange and Zedxion Exchange, associated with Iranian businessman Babak Morteza Zanjani. This is the first time OFAC has sanctioned digital asset exchanges for operating within Iran's economic and financial sector.

Since its registration in August 2022, Zedcex has processed over $94 billion in transactions. Multiple addresses of these two exchanges have handled funds for wallets related to the Islamic Revolutionary Guard Corps (IRGC) of Iran. Additionally, OFAC has sanctioned several Iranian officials, including Interior Minister Eskandar Momeni Kalagari, accusing them of being responsible for violent suppression within Iran.