The UK has shut down crypto exchange Zedxion, accusing it of providing financial services to Iran.

UK Shuts Down Crypto Exchange Zedxion Over IRGC Ties—$1B in Illicit Flows

The regulatory hammer has fallen. UK authorities ordered the closure of crypto exchange Zedxion, citing "misleading, false, or deceptive" information in its registration. But the real story runs deeper. Media reports say Zedxion processed roughly $1 billion for Iran's Islamic Revolutionary Guard Corps—accounting for 56% of its total volume. The move follows U.S. Treasury sanctions targeting the exchange for helping Iran evade international restrictions. The EU had already blacklisted it for laundering billions in oil revenues for Iranian state entities. Another crypto front in the sanctions battle.