[UK Shuts Down Crypto Exchange Zedxion, Accuses It of Providing Financial Services to Iran] Odaily Planet Daily News – The UK regulatory authorities have ordered the closure of the cryptocurrency exchange Zedxion, accusing it of handling funds for the Islamic Revolutionary Guard Corps (IRGC) of Iran. An official statement indicated that Zedxion was shut down due to “misleading, false, or deceptive information or declarations in the company’s registration application.” Media reports reveal that Zedxion processed approximately $1 billion in funds for the IRGC, accounting for about 56% of the platform’s total transaction volume. This UK action follows measures taken by the U.S. Treasury Department against Zedxion for assisting Iran in evading international sanctions. Previously, the European Union also imposed sanctions on Zedxion for facilitating the laundering of billions of dollars in oil revenue for Iranian state-owned entities. Zedxion was established in 2021, with Babak Morteza serving as its director and major controller. Morteza, an Iranian businessman, has been accused of violating international sanctions. Governments worldwide are intensifying scrutiny of cryptocurrency exchanges to prevent them from channeling funds to Iran, which is in a state of conflict with the U.S. and Israel. (Yahoo)