US Treasury Cuts MEXC Exchange Off From Financial System

US Treasury Cuts MEXC — The U.S. Department of the Treasury has formally severed crypto exchange MEXC from the American financial system, alleging it facilitated billions in illicit finance for sanctioned nations.

The Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final order on Wednesday barring all U.S. financial institutions from processing any transactions to or from MEXC. The action is part of “Operation Economic Outcast,” a broader initiative targeting sanctions evasion.

According to the Treasury, MEXC processed over $16 billion in transactions linked to entities in Iran, North Korea, and Russia, violating U.S. sanctions. The order states the exchange failed to implement adequate anti-money laundering controls and willfully ignored its obligations under the Bank Secrecy Act.

The move effectively isolates MEXC from the U.S. dollar banking system and represents one of the most severe enforcement actions the Treasury can take against a foreign cryptocurrency platform.