US Treasury Cuts MEXC Off From Financial System Over $16B in Illicit Transactions

The US Treasury has moved to restrict MEXC Global from the American financial system after accusing the cryptocurrency exchange of facilitating at least $16 billion in transactions linked to illicit activities. The action targets alleged sanctions evasion, cybercrime, and financial networks connected to Russia, Iran, and North Korea. The Financial Crimes Enforcement Network (FinCEN) issued the order on November 6, directing US financial institutions to stop processing funds transfers involving MEXC. FinCEN published the decision on November 6, ordering US financial institutions to refrain from making transfers related to MEXC.