FinCEN Moves to Cut MEXC Global Off From US Banks Over Alleged $16B Illicit Flows

TL;DR: The US Treasury’s Financial Crimes Enforcement Network says MEXC Global facilitated at least $16 billion in transactions linked to illicit activity and has issued a special measure prohibiting US financial institutions from processing transfers involving the exchange. The finding is a regulator’s allegation, not a judgment against every MEXC user. The sharpest crypto enforcement story of the weekend came not from a trading chart but from the US Treasury. On November 6, FinCEN announced an order designed to cut exchange MEXC Global off from the US financial system.