Business · Companies · 16 hrs ago
US Moves to Cut MEXC Crypto Exchange Off From Financial System
The US Treasury ordered measures to cut MEXC Global off from the US financial system.
The cryptocurrency exchange was targeted because the Treasury said it helped Iran, North Korea and Russia evade US sanctions through illicit transactions.
The Treasury also said MEXC’s controls to prevent money laundering had serious weaknesses.
At least $16 billion in suspicious transactions passed through MEXC over five years, according to figures reported by RBC from the US Treasury.
The move is intended to block a route for sanctions evasion through the financial system.
The sources do not say what MEXC will do next or when the measures will take effect.
The US Treasury said on November 6 that it had ordered MEXC Global to be effectively cut off from the US financial system.
The department said the cryptocurrency exchange had facilitated transactions helping Iran, North Korea and Russia evade US sanctions.
It said MEXC’s platform had serious weaknesses in its anti-money-laundering controls.
The Russian outlet RBC reported that at least $16 billion in suspicious transactions had passed through MEXC over five years, citing the US Treasury.
- Who
- The US Treasury and cryptocurrency exchange MEXC Global.
- What
- The Treasury ordered MEXC to be effectively cut off from the US financial system.
- When
- November 6, 2026.
- Where
- The US financial system.
- Why
- The Treasury said MEXC facilitated transactions helping Iran, North Korea and Russia evade US sanctions, and had serious anti-money-laundering weaknesses.
This story does not have two clearly opposing sides.
MEXC announced it would stop serving customers in Russia, according to RBC.
The US Treasury announced an order to effectively cut MEXC off from the US financial system.
- Exchange
- MEXC Global
- Order announced
- November 6, 2026
- Countries named by the Treasury
- Iran, North Korea and Russia
- Suspicious transactions
- At least $16 billion over five years, according to RBC citing the US Treasury