US Treasury cuts off MEXC over alleged $16 billion in illicit transactions
Briefing by News4U · First published
The US Department of the Treasury on Friday ordered cutting cryptocurrency exchange MEXC Global off from the US financial system, accusing it of facilitating at least $16 billion in transactions linked to sanctions evasion, cybercrime and other illicit activity. FinCEN said the flows spanned May 2021 to May 2026 and included about $1.5 billion tied to Russian sanctions evasion. The ban takes effect 30 days after Federal Register publication. Treasury Secretary Scott Bessent said institutions cannot support Iran and keep US financial access; Cointelegraph said MEXC held about $4.48 billion in assets and had not commented. [1]
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- US Treasury cuts off MEXC over alleged $16B in illicit transactions
Cointelegraph · · Full text