Bangladesh, March 18 -- British authorities have taken decisive action against a controversial cryptocurrency firm accused of facilitating financial flows tied to Irans powerful military apparatus. The move underscores growing international concern over the use of digital assets to bypass sanctions and finance politically sensitive activities.

The United Kingdoms corporate registry, Companies House, has initiated proceedings to strike off Zedxion Exchange Ltd., a UK-registered cryptocurrency platform allegedly connected to sanctioned Iranian businessman Babak Zanjani. The action follows investigative findings that the company submitted misleading information during its incorporation process, including the use of a fictitious director ide...