The U.S. imposed sanctions on Friday on four individuals and nine entities, including Turkish and United Arab Emirates-based companies allegedly tied to Iranian businessman Babak Zanjani’s cryptocurrency exchanges, ZEDXION and ZEDCEX.

The Treasury Department said the businesses helped Iran move funds covertly through financial services, digital assets, gold trading, transportation and infrastructure projects while concealing ownership and laundering revenue.

More to Read

Iran evasion network built around crypto

The designated companies were accused of supporting Zanjani’s…