For the first time, the United States has sanctioned crypto exchanges linked to Iran, marking a major development in its financial pressure strategy. This decision, announced at the end of January 2026, targets two British platforms accused of facilitating transactions for Iranian entities under embargo. What are the challenges of this unprecedented measure for the crypto sector and international relations?
In brief
- The United States sanctions two British crypto exchanges (Zedex and Zedxion) for their connection to Iran.
- The move escalates geopolitical tensions, with threats of Iranian retaliation and increased scrutiny of stablecoins like USDT.
- The crypto market reacts violently: bitcoin falls below $78,000, and increased volatility is expected.
Historic US sanctions against Iran-linked crypto exchanges
On January 30, 2026, the US Treasury struck Zedex Exchange Ltd. and Zedxion Exchange Ltd., two UK-based crypto exchanges, for their alleged role in funding Iranian entities, including the Islamic Revolutionary Guard Corps (IRGC). These platforms, accused of having processed more than $94 billion in transactions since 2022, are the first in the crypto sector to be targeted by American sanctions.
This decision is part of a desire to cut off Iran's access to alternative financial channels, in particular cryptocurrencies like USDT, used to circumvent embargoes. Scott Bessent, Deputy Secretary of the Treasury, said these sanctions aim to close the doors to networks that exploit digital assets to finance illicit activities. Tehran reacted by denouncing an economic war, while denying any illegal use of cryptos.
The United States against crypto exchanges: a geopolitical escalation with unpredictable repercussions
THE US sanctions against crypto platforms linked to IRAN come against a backdrop of growing tensions between the United States and Iran. Since December 2025, Tehran has faced accusations of violent repression of protests and relaunching its nuclear program, despite Israeli and American strikes on its sensitive sites in 2024. In response, Iran has conducted military exercises in the Strait of Hormuz and is threatening to retaliate in the event of a new attack.
This geopolitical escalation could have unpredictable consequences. On the one hand, the United States is increasing its pressure to isolate Iran economically, now targeting digital assets. On the other hand, Tehran, supported by Russia and China, could intensify its cyberattacks or its regional destabilization actions, particularly via its proxies in the Middle East.
Crypto market on alert: crash or high volatility to be expected after IRAN sanctions?
The American decision immediately caused shock waves in the crypto market. Indeed, bitcoin, already under pressure due to geopolitical tensions, fell below $78,000 at the beginning of February 2026! Bringing in its wake, other cryptocurrencies like Ethereum and Solana. As a result, investors fear increased regulation and widespread distrust of stablecoins, like USDT, often used to circumvent sanctions.
Exchange platforms, even those not affected by sanctions, could tighten their compliance procedures (KYC/AML) to avoid any risk. Some could even delist projects or users linked to embargoed countries, such as Russia or North Korea. This situation could increase the volatility of the crypto market, already marked by strong speculation.
US sanctions against crypto platforms mark a turning point in modern economic warfare. Between geopolitical escalation and increased market volatility, this decision poses a crucial question… Can cryptos survive as a circumvention tool, or does this measure sound the death knell for their use for illegal purposes? The ecosystem is therefore entering an era of increased surveillance, where compliance will become a major issue for all stakeholders.
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