Update
US Treasury Prohibits Funds Transfers to MEXC Global
The US Treasury's Financial Crimes Enforcement Network (FinCEN) has ordered US financial institutions to stop processing funds transfers to or from the crypto exchange MEXC Global. FinCEN cited severe deficiencies in MEXC's anti-money laundering controls and said MEXC facilitated at least $16 billion in transactions linked to sanctions evasion, cybercrime, and other illicit activities between May 2021 and May 2026, including nearly $1.5 billion tied to Russian sanctions evasion and approximately $1 billion in direct transactions with Iranian crypto exchanges. The order will take effect 30 days after publication in the Federal Register.