UK dey ready to shut down Zedxion crypto exchange wey linked to IRGC
UK don start compulsory strike-off against UK crypto exchange Zedxion Exchange Ltd after on-chain analytics connect am to Iran Islamic Revolutionary Guard Corps (IRGC). TRM Labs talk say for 2024, near 90% of funds wey the UK exchange process na IRGC-linked, and Zedxion plus im affiliate Zedcex handle about $1 billion flows.
For 2024, IRGC-linked payments make up about 87% of transactions; that share still high enter 2025 (about 48%). Investigators dey allege say Zedxion file false corporate information, including one director identity wey fit be made up—"Elizabeth Newman"—wey fit use stock-photo.
The UK action follow US sanctions. For January, US Treasury OFAC designate Zedxion and Zedcex, citing links to Babak Zanjani and funding projects wey support IRGC and wider Iranian government activities. For traders, this one na another signal say UK and US compliance enforcement dey tighten, and e dey raise risk of sanctions-driven liquidity shocks and sudden delistings for any IRGC-linked counterparties.
Neutral
Di tori tok about enforcement and compliance: UK dey move to remove Zedxion say dem file fake papers and get transaction patterns wey join IRGC, and US don add the entities to sanctions lists before. Actions like this fit tighten on-ramps, reduce access to liquidity for sanctioned or high-risk counterparties, and cause volatility around the affected platforms. But the articles no mention any specific traded cryptocurrency wey go get direct, measurable price impact, so the net effect on any single coin price better treat as neutral. Traders suppose still watch for secondary effects (exchange risk re-pricing, routing changes, compliance-driven withdrawal/deposit constraints) wey fit indirectly affect broader market sentiment.