UK Takes Action Against Zedxion Exchange Over Alleged Sanctions Breach
- UK Companies House has begun compulsory strike-off proceedings against Zedxion Exchange Ltd.
- The US Treasury accused the platform of processing approximately $1 billion in funds linked to Iran’s Islamic Revolutionary Guard Corps (IRGC).
- Dissolution actions were initiated around March 18, under section 1002A of the UK corporate regulations.
Zedxion Exchange Ltd faces dissolution by UK authorities following accusations from the US Treasury regarding its financial dealings with the IRGC. The swift action highlights the UK’s commitment to enforcing international sanctions and maintaining regulatory compliance within its jurisdiction.
This move by the UK Companies House underscores the seriousness of allegations involving significant sums, such as the $1 billion linked to Iran’s IRGC, and reflects broader efforts to uphold economic sanctions globally. (Source)
