The US Treasury Department has imposed sanctions on four individuals and nine entities linked to Babak Zanjani’s sanctions evasion network, the Iranian businessman specialized in transferring Iran’s oil revenues. This action expands a crackdown targeting Iran-linked crypto platforms that reportedly processed over $94 billion in transactions since 2022. The crypto exchanges Zedcex Exchange Ltd. and Zedxion Exchange Ltd., registered in the United Kingdom and first designated in January 2026, are at the center of this network suspected of ties to the Islamic Revolutionary Guard Corps (IRGC). For users of crypto platforms, these sanctions imply a risk of asset freezes and withdrawal difficulties.
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