UK Initiates Dissolution of Zedxion Crypto Platform

Britain's corporate registry has initiated the dissolution of Zedxion Exchange Ltd., a cryptocurrency platform accused of facilitating over $1 billion in transactions linked to Iran's Islamic Revolutionary Guard Corps, following revelations of false corporate filings.

Companies House, the UK's official register of companies, announced the compulsory strike-off on its website, citing misleading, false or deceptive information in the firm's incorporation documents. The exchange, incorporated in May 2021, came under scrutiny after investigations exposed a pattern of fabricated identities among its leadership. Initial records listed Babak Morteza as director and person with significant control starting in October 2021. However, details associated with that name aligned with those of Babak Zanjani, an Iranian businessman sanctioned by the United States and European Union since 2013 for laundering billions in oil revenue on behalf of Iranian state entities, including the IRGC. Morteza's listing ended in August 2022, when Elizabeth Newman, described as a Dominican Republic citizen, was appointed as director. An investigation by the Organized Crime and Corruption Reporting Project...