UK Moves to Dissolve Crypto Exchange Linked to Iran Sanctions Evasion
- The UK’s Companies House is dissolving Zedxion Exchange Ltd due to “misleading, false or deceptive” filings.
- Zedxion and its sister entity, Zedcex, were sanctioned by the U.S. in January for alleged ties to Iran’s Revolutionary Guard.
- Blockchain data indicates over $1 billion was moved by Zedxion and Zedcex, with significant volumes linked to the IRGC.
- Elizabeth Newman, listed as a director of Zedxion, is suspected to be a fictitious identity using a stock image.
Britain’s Companies House has initiated the dissolution of Zedxion Exchange Ltd following U.S. sanctions against it for alleged involvement with Iran’s Islamic Revolutionary Guard Corps (IRGC). The exchange reportedly processed substantial funds linked to the IRGC through misleading incorporation details.
The move underscores efforts by authorities to clamp down on entities facilitating sanctions evasion via cryptocurrency. Blockchain analysis revealed that over $1 billion was moved through these platforms, highlighting their significant role in illicit financial activities linked to state actors like the IRGC. (Source)
