The US has imposed sanctions on crypto exchanges linked to Iran for the first time.

Important Step from the U.S. Treasury Department

The United States Treasury Department has imposed sanctions for the first time on two cryptocurrency exchanges, Zedcex and Zedxion, under financial sanctions unique to Iran. These exchanges are alleged to have conducted transactions for the Islamic Revolutionary Guard Corps.

The exchanges are linked to Babak Morteza Zanjani, who has been convicted of fraud. Zanjani is a businessman who was imprisoned for fraud in Iran.

The sanctions freeze all U.S. connected assets of these exchanges, prohibiting American individuals and entities from interacting with them. This development is seen as a significant milestone in the rise of financial sanctions related to cryptocurrency.