U.S. Treasury moves to cut off crypto exchange MEXC over $16 billion in alleged illicit flows
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The U.S. Treasury moved to cut off crypto exchange MEXC, citing roughly $16 billion in alleged illicit flows tied to Russia and framed as part of its campaign against Iran. The action targets MEXC’s role in Russian illicit finance, putting the exchange’s banking and dollar-clearing access at risk. The order matters because it extends Treasury’s enforcement reach into offshore crypto trading venues and could force MEXC to tighten know-your-customer and sanctions controls. Watch for MEXC’s response, any changes to deposit and withdrawal rails, and whether other exchanges face similar scrutiny over Russia-linked flows.
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Named in this story
MEXC, U.S. Treasury, Russia, Iran