The UK has expanded sanctions against an Iranian-linked network accused of plotting attacks and laundering billions through a shadow banking system, freezing assets and restricting travel for individuals and companies tied to alleged hostile operations.

Authorities have targeted nine individuals and three entities, citing their involvement in Iranian-backed efforts to destabilize the UK and its allies, including alleged attack planning and financing. The sanctions focused on the Zindashti criminal network, which Western governments said was involved in assassinations and kidnapping operations targeting Iranian dissidents.

The group’s alleged leader, Naji Ibrahim Sharifi-Zindashti, was previously sanctioned by the UK and US, with officials linking the network to Iran’s intelligence apparatus. The EU has also imposed similar measures.

Additional sanctions were placed on members of the Zarringhalam family and affiliated exchange houses accused of laundering billions via front companies in the UAE and Hong Kong. Other designated individuals span Turkey, Azerbaijan and Iran, as part of a wider crackdown on Iranian-linked influence and financing networks.

UK moves closer to full crypto regulatory regime by 2027

The UK is accelerating efforts to regulate crypto assets, with plans to finalize a full regulatory framework in 2026 and bring it into force by 2027, as authorities aim to support market growth while strengthening oversight.

The Financial Conduct Authority is consulting on a broad set of rules covering crypto trading platforms, intermediaries, lending, staking, stablecoins and DeFi. Proposed requirements include licensing for trading venues, best-execution and transparency standards, restrictions on retail access to certain services, and enhanced controls to prevent market abuse and manage operational risk.

Stablecoins and custody are also key focus areas, alongside a developing prudential regime for crypto firms. In DeFi, regulators are considering how to apply rules where identifiable control exists, while excluding truly decentralized activity from formal regulation where appropriate.

The UK’s regulatory trajectory aligns with parallel developments in the US and EU, reflecting an ongoing international move toward structured crypto oversight, with firms expected to meet higher standards for compliance, disclosure and market integrity.