US Treasury Cuts MEXC Crypto Exchange Off From Financial System
The firm is accused of facilitating $16 billion in illicit flows linked to sanctions against Russia, Iran, and North Korea.
The United States Department of the Treasury has issued an order banning the cryptocurrency exchange MEXC Global from its financial system. This measure is part of Operation Economic Outcast and prohibits American institutions from processing fund transfers for the platform.
The decision follows investigations revealing that the exchange facilitated at least $16 billion in illicit transactions between May 2021 and May 2026. The agency states that the company served as a conduit to bypass sanctions against Russia, Iran, and North Korea.
Documents from the U.S. Financial Crimes Enforcement Network classify MEXC as a primary money laundering concern. The exchange reportedly maintained operations with sanctioned entities like Garantex even after receiving formal warnings from American authorities.
The ban will take effect 30 days after its official publication in the Federal Register. The order covers the headquarters in the Seychelles and various affiliates operating in Switzerland, Estonia, and the United Kingdom.
This restriction increases regulatory risk for global exchanges operating outside American jurisdiction. It may heighten Bitcoin volatility and put pressure on the dollar as oversight on digital asset flows tightens.
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