FinCEN is cutting MEXC out of the US financial system over at least $16B in transactions tied to sanctions evasion and cybercrime, and US institutions must stop processing MEXC transfers 30 days after

What happened: FinCEN ordered US financial institutions to stop processing transfers involving MEXC Global, accusing the exchange of facilitating illicit transactions. Key numbers: At least $16 billion in transactions linked to sanctions evasion and cybercrime; about $1.5 billion tied to Russian sanctions evasion; activity dated May 2021 to May 2026; order takes effect 30 days after Federal Why it matters: The order cuts MEXC off from the US financial system and is part of Operation Economic Outcast, a Treasury campaign launched in August to cut off entities helping Iran evade sanctions. Coverage: 4 outlets in 24h

FinCEN ordered US financial institutions to stop processing transfers involving MEXC Global, accusing the exchange of facilitating illicit transactions.

The order cuts MEXC off from the US financial system and is part of Operation Economic Outcast, a Treasury campaign launched in August to cut off entities helping Iran evade sanctions.