BREAKING: US CUTS MEXC OFF FROM THE FINANCIAL SYSTEM OVER $16B IN ILLICIT FLOWS
đïž The order: The US Treasury, through FinCEN, has ordered MEXC Global cut off from the US financial system, barring US financial institutions from transmitting funds to or from the exchange.
đ° The money: FinCEN says MEXC processed at least $16B in suspicious transactions from 2021 to 2026, including $1.5B tied to Russia and about $1B in trades with crypto exchanges in Iran.
âł Timing: The ban takes effect 30 days after publication in the Federal Register, which has not happened yet, so the 30-day clock has not started.
đŹ This is a funds-transmittal ban on US banks, not an order to shut MEXC down or freeze user funds. But for an exchange processing over $1B a day, being cut off from the US financial system is a heavy blow.
$ONE $ZEC $TAO
đïž The order: The US Treasury, through FinCEN, has ordered MEXC Global cut off from the US financial system, barring US financial institutions from transmitting funds to or from the exchange.
đ° The money: FinCEN says MEXC processed at least $16B in suspicious transactions from 2021 to 2026, including $1.5B tied to Russia and about $1B in trades with crypto exchanges in Iran.
âł Timing: The ban takes effect 30 days after publication in the Federal Register, which has not happened yet, so the 30-day clock has not started.
đŹ This is a funds-transmittal ban on US banks, not an order to shut MEXC down or freeze user funds. But for an exchange processing over $1B a day, being cut off from the US financial system is a heavy blow.
$ONE $ZEC $TAO
