According to ChainCatcher, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has imposed its first sanctions on two digital asset exchanges, Zedcex Exchange and Zedxion Exchange, which are linked to Iranian businessman Babak Morteza Zanjani. This marks the first time OFAC has sanctioned digital asset exchanges for operating in Iran's economic and financial sectors.
Since its registration in August 2022, Zedcex has processed over $94 billion in transactions. Multiple addresses on both exchanges have handled funds for wallets linked to Iran's Islamic Revolutionary Guard Corps (IRGC). Furthermore, OFAC has sanctioned several Iranian officials, including Interior Minister Eskandar Momeni Kalagari, accusing them of responsibility for the violent repression within Iran.
