US imposes sanctions on cryptocurrency exchanges for links to Iran

The platforms facilitated more than USD 94,000 million in transactions of wallets linked to terrorist organizations, according to the government.

The OFAC blocked operations of Zedcez and Zedxion, companies from the United Kingdom.

The sanctions freeze all assets linked to the US and prohibit their use.

The US Department of the Treasury announced on January 30 sanctions against Iranian officials, a businessman, and two London-based cryptocurrency exchanges linked to the Islamic Revolutionary Guard Corps (IRGC), for human rights violations and illicit financial activities.

The Office of Foreign Assets Control (OFAC) of the agency announced through a statement that the identified exchanges are Zedcex and Zedxion. This measure is part of a broader campaign against Iranian authorities following the crackdown on local protests.

Zedcex and Zedxion are two cryptocurrency exchange platforms registered in the United Kingdom. Since their registration in 2022, the exchanges have processed more than USD 94 billion in transactions, the agency reported.

It states that multiple addresses attributed to Zedcex and Zedxion have processed funds for wallets linked to the IRGC. This group is considered a terrorist group by the United States, its allies in Europe, and Canada.

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