The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has for the first time sanctioned cryptocurrency exchanges under its Iran sanctions regime, targeting two UK-registered platforms, Zedcex and Zedxion, linked to Iranian networks and alleged to have processed funds for the Islamic Revolutionary Guard Corps (IRGC). The move freezes U.S.-linked assets and bars U.S. entities from dealing with them, reflecting a shift toward targeting crypto infrastructure used to evade sanctions.