The US Treasury just cut MEXC off from the American banking system.

FinCEN issued the order on Friday, Nov 6.

It says MEXC moved at least $16B in shady money between May 2021 and May 2026.

The flows are tied to sanctions dodging by Iran, North Korea, and Russia, plus cybercrime.

US banks now can't send or receive money to or from MEXC.

MEXC says its lawyers are reviewing the order, and that trading runs as normal and user funds are safe.

📊 By the numbers:

$16B+ flagged flows | ~$1.5B tied to Russian sanctions dodging | $232M in direct deals with sanctioned groups | $1B+ daily volume, ~$5B in reserves

📈 $MX now: ~$1.47 (−5.7% today)

👀 Why it matters:

MEXC is one of the world's top 20 exchanges, and $MX holders are already feeling it.

This is part of "Operation Economic Outcast" — Washington is going after offshore crypto, hard.

If one big exchange can get cut off, traders will ask who's next.

⏭️ What happens next:

The ban kicks in 30 days after it's published in the Federal Register — no date set yet.

Watch what MEXC says next, and whether other exchanges get the same treatment.

💬 One side says a top-20 exchange getting cut off proves no platform is too big — and the next one could be anyone. The other side says MEXC still runs fine outside the US with $5B in reserves, so this changes little. Which side are you on?