Money transfers between US financial institutions and MEXC Global will be prohibited 30 days after FinCEN’s order is published in the Federal Register.
FinCEN, part of the US Treasury Department, issued an order prohibiting fund transfers between the cryptocurrency exchange MEXC Global and US financial institutions. According to the decision reported by Wu Blockchain, the restriction covers transfers to and from MEXC.
FinCEN cited $16 billion in transactions
FinCEN reported that at least $16 billion in transactions linked to sanctions evasion, cybercrime, and other illegal activities took place through MEXC between May 2021 and May 2026. The agency linked approximately $1.5 billion of that amount to evasion of Russian sanctions and approximately $1 billion to direct transactions with Iranian cryptocurrency exchanges. FinCEN also said MEXC had serious deficiencies in its anti-money laundering controls.
Not investment advice.
