The U.S. Treasury Department said it cut MEXC Global off from the United States over allegations involving $16 billion in transactions connected to Iran, North Korea and Russia. Treasury's Financial Crimes Enforcement Network issued an order against the crypto exchange on Friday and identified MEXC Global as a money laundering concern. Treasury alleged serious weaknesses in MEXC Global's anti-money laundering controls despite the exchange's stated safeguards and commitments to block users in countries including Iran and North Korea.