US Treasury Slams MEXC With Financial-System Block Over Alleged Illicit Flows

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The US Treasury has moved to cut MEXC Global off from the American financial system over at least $16 billion in allegedly illicit transactions. FinCEN linked the activity to sanctions evasion involving Iran, Russia and North Korea, as well as cybercrime. The order prohibits US financial institutions from processing transfers involving the exchange and takes effect 30 days after publication in the Federal Register. The measure does not amount to a worldwide ban on MEXC or an automatic freeze of all customer assets. The US government has taken a major step against the cryptocurrency exchange MEXC Global, accusing the platform of facilitating billions of dollars in transactions connected to sanctions evasion and other illegal financial activity. The action places one of the world’s larger crypto trading platforms under significant regulatory pressure and highlights Washington’s growing focus on the use of digital assets to move money outside traditional financial controls. The order was issued on November 6 by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) as p...