Overview
- OFAC designated Zedcex Exchange Ltd. and Zedxion Exchange Ltd., both registered in the United Kingdom, for operating in Iran’s financial sector.
- Treasury reported that one of the platforms processed more than $94 billion in transactions since 2022.
- The exchanges were linked by OFAC to Iranian businessman Babak Morteza Zanjani, who is accused of using them to move regime funds.
- Seven Tron addresses tied to Zedcex were included in the designation, with overlap noted with wallets flagged by Israel’s counter-terror finance bureau.
- U.S. persons are now barred from transacting with the entities, expanding counterparty and KYC risks for crypto businesses globally.