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OFAC's digital assets determination sits alongside four others under Executive Order 13902, and landed with nearly 60 designations including a UAE-based broker Treasury says moved over $100 million in crypto for the Qods Force.
Bitcoin bounced from a $74,192 low to $77,000 on May 23 after the US president said a memorandum of understanding with Tehran was close to signing and the Strait of Hormuz would reopen. Short sellers caught the worst of the reversal.
Bitcoin's first push above $80,000 since January lasted only hours. A report by Iran's Fars news agency that two Iranian missiles had hit a US patrol boat near the Strait of Hormuz reversed the move; CENTCOM denied any ship was hit, but the price still hasn't recovered.
Vice President JD Vance confirmed no agreement was reached after 21 hours of negotiations in Pakistan, reversing a week-long rally that had carried bitcoin above $74,000 on ceasefire optimism.
The US Treasury's OFAC designated Zedcex Exchange Ltd and Zedxion Exchange Ltd on January 30, 2026, marking the first-ever sanctions action against a crypto exchange.
KnownOrigin quietly banned artists from Iran, Cuba, and other sanctioned nations on 15 June. eBay closed its acquisition of the Manchester marketplace seven days later. The community that built the platform is now asking whether the founders traded their principles for a payday.
