MEXC FinCEN Order: US Treasury Cuts MEXC Off From the US Financial System

The US Treasury dropped a bomb on Friday. FinCEN issued an order that cuts MEXC Global off from the US financial system. Treasury says the exchange facilitated at least $16 billion in illicit transactions between May 2021 and May 2026. Those funds were tied to Iranian, North Korean and Russian sanctions evasion, plus cybercrime. In plain terms, the MEXC FinCEN order bans US banks and financial institutions from sending money to or receiving money from MEXC. It takes effect 30 days after publication in the Federal Register. This is not a worldwide shutdown, and it does not seize customer funds.