US Sanctions Turkish, UAE Firms Tied to Zanjani's Crypto Exchanges
The US Treasury Department has imposed sanctions on four individuals and nine entities allegedly tied to Iranian businessman Babak Zanjani's cryptocurrency exchanges, ZEDXION and ZEDCEX.
The designated companies helped Iran move funds covertly through financial services, digital assets, gold trading, transportation, and infrastructure projects while concealing ownership and laundering revenue.
Among the sanctioned entities were Turkish payment services firm Zedpay Finansal Sistem ve Hizmetleri A.S. and Dubai-based ZEDX DMCC, BZ Diamond DMCC, Dot One Information Systems L.L.C-FZ, and Dot One Information Systems L.L.C.
The Treasury also designated Mehdi Rezazadeh, identified as ZEDXION's chief executive officer, along with Hossein Shekarabi, Mohammad Hashemi, and Mohammad Mehdi Shafiei, alleging they held senior roles in companies that enabled the network's financial operations.