TechFlow News: On January 31, according to the U.S. Department of the Treasury, the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury sanctioned two digital asset exchanges—Zedcex Exchange and Zedxion Exchange—linked to Iranian businessman Babak Morteza Zanjani. This marks OFAC’s first-ever sanctions against digital asset exchanges operating in Iran’s economic and financial sector.
Since its registration in August 2022, Zedcex has processed over $94 billion in transactions. Multiple addresses associated with these two exchanges have handled funds for wallets linked to the Islamic Revolutionary Guard Corps (IRGC) of Iran. Additionally, OFAC sanctioned several Iranian officials, including Iran’s Minister of Interior Eskandar Momeni Kalagari, accusing them of responsibility for violent crackdowns within Iran.
