2026 US and UK sanctions and a Wall Street Journal report on $850m in Binance transactions
In early 2026 the US and UK sanctioned Zanjani. The US Treasury said he financially backed projects supporting the IRGC and that two crypto exchanges linked to him processed funds tied to IRGC wallets. The UK said he runs a network of companies that generates funds for the IRGC. In May 2026 The Wall Street Journal reported about $850m in Binance transactions by his network, which Binance disputed.
Editorial timeline of public reporting, not a legal finding.
- US Treasury sanctions Zanjani and two linked crypto exchanges - Reuters and a US Treasury release reported that OFAC designated Zanjani for operating in Iran's financial sector. Treasury called him a criminal Iranian investor and said he provided financial backing for major projects supporting the IRGC. It also sanctioned two UK-registered exchanges, Zedcex and Zedxion, which it said processed funds for IRGC-linked wallets. The release quoted Treasury Secretary Scott Bessent (@secscottbessent). Treasury Sanctions Iranian Regime Officials for Violent Repression and Corruption
- UK sanctions Zanjani in a human rights package, as reported - The UK Foreign Office and Reuters reported that Britain, in a package targeting human rights abuses after the protest crackdown, placed Zanjani under an asset freeze, travel ban and director disqualification. The UK statement described him as a businessman who runs a network of companies which generates funds and enables the criminal activities of the IRGC, including its suppression of protesters. UK announces sanctions against perpetrators of human rights violations in Iran
- Wall Street Journal reports Binance transactions by his network - The Wall Street Journal, as relayed by The Times of Israel and Iran International, reported that a network run by Zanjani carried out about $850m in Binance transactions over two years, with an estimated $425m reaching Iran's military, and that the main account stayed open into January 2026 despite internal red flags. Binance disputed the reporting and said it has zero tolerance for illicit activity. Iran Moved Billions Through Binance to Fund Regime - Continuing Into This Month