US Treasury orders severance of MEXC's ties with the US financial system
Original headline美国财政部下令切断 MEXC 与美国金融体系的联系
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The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has ordered U.S. financial institutions to stop sending and receiving funds to and from crypto exchange MEXC Global, with the ban taking effect 30 days after publication in the Federal Register. FinCEN said MEXC moved at least $16 billion linked to sanctions evasion, cybercrime and other illicit activity between May 2021 and May 2026, including nearly $1.5 billion tied to Russian sanctions evasion. Over the same period, MEXC transacted roughly $1 billion directly with more than 40 Iranian crypto exchanges and processed about $22 million for Iran's central bank, the Islamic Revolutionary Guard Corps and its Quds Force. The order matters because it effectively cuts the Seychelles-based exchange off from the U.S. banking system and raises compliance risk for counterparties. What to watch next is whether MEXC tightens know-your-customer and sanctions screening, and whether other exchanges or stablecoin issuers follow with their own restrictions.
Muhabbit's AI wrote this summary in its own words from TechFlow's report and translated it from Chinese. It can get details wrong, so check the source.
Named in this story
MEXC Global, FinCEN, US Department of the Treasury, Iran, Russia