The UK-registered cryptocurrency exchange Zedxion has been shut down after blockchain analysis firm TRM Labs discovered that approximately 90% of its 2024 trading volume (around $1 billion) was linked to Iran's Islamic Revolutionary Guard Corps (IRGC). British authorities initiated compulsory strike-off proceedings, citing that Zedxion submitted false documents, including fabricating a director. The case follows previous US sanctions and highlights the UK's efforts to use new powers to combat economic crime.