Odaily Planet Daily report: UK regulators have ordered the shutdown of the cryptocurrency exchange Zedxion, accusing it of processing funds for Iran’s Islamic Revolutionary Guard Corps. Official statements cited “misleading, false, or deceptive information or statements” in the company’s registration application as the reason for the shutdown. Media reports indicate that Zedxion processed approximately $1 billion in funds for the Iranian Revolutionary Guard Corps, accounting for about 56% of the platform’s total transaction volume. This UK action follows measures taken by the U.S. Department of the Treasury targeting Zedxion for assisting Iran in evading international sanctions. Previously, the European Union also imposed sanctions on Zedxion for helping Iranian state entities launder billions of dollars in oil revenues.
Zedxion was established in 2021, with Babak Morteza serving as director and person with significant control; he is an Iranian businessman who has been accused of violating international sanctions. Governments worldwide are increasing scrutiny of cryptocurrency exchanges to prevent them from channeling funds to Iran, which is at war with the United States and Israel. (Yahoo)