U.S. imposes sanctions on crypto exchanges tied to Iran for the first time
The U.S. Treasury Department has, for the first time, sanctioned cryptocurrency exchanges for operating in Iran’s financial sector.
The Office of Foreign Assets Control (OFAC) announced sanctions against Zedcex and Zedxion both registered in the United Kingdom, as part of a broader crackdown on Iranian authorities after their brutal suppression of an internal uprising that killed thousands of their own citizens.
According to the Treasury’s statement, the exchanges facilitated transactions for the Islamic Revolutionary Guard Corps (IRGC), which the U.S. and its allies in the European Union designate as a terrorist organization. Since their registration in 2022, just one of these processed over $94 billion in transactions, the Treasury…
