The US Treasury’s Financial Crimes Enforcement Network ordered US financial institutions to stop transferring funds to or from MEXC Global. The restriction will take effect 30 days after publication in the Federal Register; violations may bring civil or criminal liability.
FinCEN said at least $16 billion tied to illicit activity flowed through MEXC from May 2021 to May 2026, including nearly $1.5 billion in transactions linked to evasion of Russia-related sanctions. The Treasury also sanctioned eight Canadian companies that it said facilitated sanctions evasion involving Iran, Russia and North Korea and moved funds tied to cybercrime and drug trafficking.
