US Treasury Moves to Cut MEXC Global Off From US Financial System Over $16B in Illicit Transactions The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued an order prohibiting US financial institutions from processing funds transfers to or from crypto…
change MEXC Global. FinCEN said MEXC facilitated at least $16 billion in transactions linked to sanctions evasion, cybercrime, and other illicit activities between May 2021 and May 2026, including nearly $1.5 billion tied to Russian sanctions evasion and approximately $1 billion in direct transactions with Iranian crypto exchanges
FinCEN cited severe deficiencies in MEXC’s anti-money laundering controls. The order will take effect 30 days after publication in the Federal Register. — link