The UK Companies House has initiated a compulsory strike-off procedure against crypto trading platform Zedxion Exchange Ltd. Previously, the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) alleged that the platform processed approximately $1 billion in funds related to Iran's Islamic Revolutionary Guard Corps (IRGC). An investigation revealed that Zedxion and its affiliated company Zedcex, despite being registered as "dormant companies," were accused of providing fund transfer services to Iranian networks through stablecoins. UK authorities stated that their registration documents contained false information, including the use of fictitious director identities. (Bitcoincom)

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