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OFAC’s First Iran Digital-Asset Exchange Designations: Zedcex and Zedxion

Created by SwapED in News 8 Feb 2026
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On 30 January 2026, OFAC designated two UK-registered cryptocurrency exchanges, Zedcex Exchange Ltd. and Zedxion Exchange Ltd., for operating in Iran’s financial sector and for processing cryptocurrency transactions for the Islamic Revolutionary Guard Corps (IRGC). The action is described as the first time digital asset exchanges have been designated specifically for operating in Iran’s financial sector. 

The designations also include seven TRON (TRX) addresses associated with Zedcex, and it is stated that some overlap with wallets identified in September 2025 by the Israel National Bureau for Counter Terror Financing as controlled by the IRGC. It is further stated that Zedcex (registered August 2022) has processed over $94 billion in transactions since its establishment, and that Zedxion (registered May 2021) initially listed Iranian businessman Babak Morteza Zanjani as its director. 

The announcement also designates six Iranian officials associated with the IRGC and law enforcement forces, linked to human rights abuses and violent repression of protesters. It highlights heightened compliance expectations for the digital-asset sector, emphasising robust KYC and enhanced transaction monitoring, particularly where there is exposure to wallets associated with illicit activity. 

Sources: 

Treasury Sanctions Iranian Regime Officials for Violent Repression and Corruption | U.S. Department of the Treasury

OFAC Designates Iranian-Linked Crypto Exchanges

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