FinCEN Moves to Cut MEXC Global Off From US Banks Over Alleged $16B Illicit Flows
Summary
FinCEN says MEXC Global facilitated at least $16 billion in transactions linked to illicit activity, including sanctions evasion and cybercrime. The US Treasury issued a special measure barring US financial institutions from processing transfers involving the exchange, targeting its access to US banking rails. The figure refers to transactions FinCEN associates with illicit activity, not customer losses, and the allegations are not a court judgment against MEXC users. The order’s effects on exchange liquidity and counterparties remain unclear.
