U.S. Department of the Treasury: Cut off MEXC Global's access to the U.S. financial system, stating that it facilitated at least $16 billion in illegal fund flows

According to a notice from the U.S. Department of the Treasury, as part of the "Economic Exile Action," FinCEN issued an order against the cryptocurrency exchange MEXC Global under Section 9714(a) of the Anti-Money Laundering Act concerning Russia, prohibiting U.S. financial institutions from conducting any fund transfers with it, thereby cutting off its access to the U.S. financial system. The order will take effect 30 days after its publication in the Federal Register.

The Treasury stated that between May 2021 and May 2026, MEXC Global facilitated at least $16 billion in transactions related to sanctions evasion and cybercrime involving Iran, North Korea, and Russia, including approximately $22 million in transactions related to the Central Bank of Iran and the Quds Force of the Islamic Revolutionary Guard Corps, as well as nearly $1.5 billion in transactions related to sanctions evasion concerning Russia.