The Trump administration has imposed a new round of sanctions targeting senior Iranian officials and, for the first time, digital asset exchanges accused of supporting the Islamic Revolutionary Guard Corps (IRGC). The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the measures, citing Iran’s violent crackdown on domestic protests and the regime’s growing use of financial and digital networks to evade sanctions.
Among those sanctioned is Eskandar Momeni Kalagari, Iran’s Minister of the Interior, who oversees the Law Enforcement Forces. OFAC stated he plays a central role in coordinating domestic security operations linked to widespread abuses. Also designated was Iranian businessman Babak Morteza Zanjani, who was released from prison to assist the regime in laundering funds and providing financial backing for IRGC-linked projects.
In a landmark move, OFAC targeted two UK-registered cryptocurrency exchanges — Zedcex Exchange Ltd. and Zedxion Exchange Ltd. Treasury said both platforms processed large volumes of transactions connected to IRGC-linked counterparties and maintained ties to Zanjani. Treasury Secretary Scott Bessent stated the sanctions reflect a broader effort to counter Iran’s misuse of financial systems, including digital assets, and that President Trump has ordered Treasury to sanction members of the regime.
The designations were issued under multiple executive authorities covering human rights abuses, counterterrorism, and Iran’s financial and energy sectors. All property and interests linked to the sanctioned individuals and entities within U.S. jurisdiction are now blocked, and U.S. persons are prohibited from transactions involving them. Treasury warned that foreign firms may also face exposure for providing material support.
This action coincides with a wider geopolitical pattern where governments use sanctions to police crypto flows. The European Union recently designated the IRGC as a terrorist organization, increasing compliance risks. Analysis indicates that sanctions can suddenly freeze wallets and exchanges, making the regulatory status of stablecoins like USDT a critical battleground. Reports suggest Iran’s central bank has moved over $507 million in USDT to bypass banking restrictions, prompting closer regulatory scrutiny of crypto payment rails.
