DECRYPT · 2026-11-06 21:06 UTC

Treasury Cuts Crypto Exchange MEXC Off From US Financial System

The U.S. Treasury, through FinCEN, ordered that U.S. financial institutions be barred from processing funds transfers to or from crypto exchange MEXC Global, effective 30 days after Federal Register publication. FinCEN said MEXC moved at least $16 billion in illicit transactions from May 2021 to May 2026, including nearly $1.5 billion tied to Russian sanctions evasion and transactions with sanctioned Garantex, Grinex, the A7A5 stablecoin and Iran's central bank and IRGC. FinCEN described MEXC's compliance as having severe deficiencies despite public anti-money-laundering claims; the order is…

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