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US Cuts MEXC Off
The US Treasury's Financial Crimes Enforcement Network has issued a final order to cut off MEXC Global from the US financial system, citing alleged links to sanctions evasion by Iran, North Korea, and Russia, with at least $16 billion in illicit flows. This move is part of Operation Economic Outcast and will bar US financial institutions from transferring funds to or from MEXC.
The US Treasury's Financial Crimes Enforcement Network has issued a final order to cut off MEXC Global from the US financial system, citing alleged links to sanctions evasion by Iran, North Korea, and Russia.
The order alleges that MEXC facilitated at least $16 billion in illicit flows from May 2021 through May 2026, including nearly $1.5 billion tied to Russian sanctions evasion and about $22 million linked to Iran's Central Bank.
MEXC ranks among the world's 20 largest centralized crypto venues by volume, with daily turnover above $1 billion and reserves near $5 billion as of mid-2026. The exchange already lists the United States as a prohibited jurisdiction in its user terms, so the action mainly hits any remaining dollar rails, banking partners, and counterparties that still touch US institutions.
Source: fincen.gov
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