OFAC Designates Iranian-Linked Crypto Exchanges in First-Ever Action Targeting Digital Asset Firms in Iran’s Financial Sector

On 30 January 2026 OFAC designated two UK-registered cryptocurrency exchanges, Zedcex and Zedxion, for facilitating Iran’s financial sector and processing transactions for the IRGC; the action includes seven Tron (TRX) addresses linked to Zedcex and notes ties to Iranian businessman Babak Morteza Zanjani. The report highlights large on-chain volumes (Zedcex reportedly processed over $94 billion), overlaps with IRGC wallets identified by other authorities, examples of prior Iran-linked crypto sanctions, and the resulting compliance implications for cryptocurrency businesses.