Summary: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) said it designated Zedcex Exchange, Ltd. and Zedxion Exchange, Ltd. in an action it described as its first designation of a digital asset exchange for operating in Iran’s financial sector.
What Treasury said
In a Treasury press release, OFAC said the two UK-registered exchanges were linked to Babak Morteza Zanjani and had processed large volumes of funds associated with IRGC-linked counterparties. Treasury stated the designations were made under multiple sanctions authorities, including Executive Order 13902.
Federal Register notice
A Federal Register notice published on Feb. 4, 2026, states that the action was issued on Jan. 30, 2026, and that the named persons were placed on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List), blocking property and interests in property subject to U.S. jurisdiction.
What it means operationally
OFAC designations can trigger screening and compliance actions for financial institutions and service providers. The SDN framework generally prohibits U.S. persons from engaging in transactions with listed parties, absent authorization or exemption.
Sources
- U.S. Treasury press release (Jan. 30, 2026): Treasury Sanctions Iranian Regime Officials for Violent Repression and Corruption
- Federal Register (Feb. 4, 2026): Notice of OFAC Sanctions Action
- OFAC recent actions page referenced by Treasury: Recent Actions (20260130)
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