FinCEN, the U.S. Treasury’s anti-money laundering agency, ordered MEXC’s exclusion from the American financial system. It accused the exchange, founded in 2018, of facilitating at least $16 billion in illicit transactions linked to sanctions evasion and cybercrime. MEXC reportedly transacted with sanctioned Russian exchanges Garantex and Grinex as recently as June 2026, violating its anti-money laundering obligations. Effective 30 days after publication in the Federal Register, the order prohibits U.S. financial institutions from processing transfers to or from MEXC.
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