US Treasury Moves to Cut MEXC Global Off From US Financial System...
Wu Blockchain@WuBlockchain
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Nov 07, 2026
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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 exchange 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.
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 exchange 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.
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MEXC said it is aware of the order issued by the U.S. Financial Crimes Enforcement Network (FinCEN) and is reviewing it closely with its legal and compliance teams. The exchange said operations remain normal and user assets remain secure. It intends to engage constructively with FinCEN and other relevant regulators and authorities worldwide, and has begun an independent review of its anti-money laundering and sanctions controls. Further updates will be provided through official channels.
