US Treasury orders crypto exchange MEXC banned from the US financial system over $16 BILLION in illicit funds.
Treasury says MEXC handled at least $16 BILLION tied to Iranian, North Korean and Russian sanctions evasion and cybercrime from May 2021 to May 2026.
Once the order takes effect, US financial institutions can’t move any funds to or from MEXC.
Russia: nearly $1.5 BILLION linked to sanctions evasion
Iran: about $1 BILLION with more than 40 Iranian crypto exchanges
North Korea: Treasury calls MEXC a hub for its sanctions evasion
It also moved about $22 MILLION for Iran’s central bank, the Revolutionary Guard and its Qods Force.
MEXC’s own rules ban users in Iran and North Korea, but Treasury says weak anti-money laundering controls let them through.
It was still trading with sanctioned Russian exchange Garantex as recently as June 2026, more than 4 years after the US blacklisted it.
“Either you support the Iranian regime, or you have access to the U.S. financial system,” Treasury Secretary Scott Bessent said.
Treasury says MEXC handled at least $16 BILLION tied to Iranian, North Korean and Russian sanctions evasion and cybercrime from May 2021 to May 2026.
Once the order takes effect, US financial institutions can’t move any funds to or from MEXC.
Russia: nearly $1.5 BILLION linked to sanctions evasion
Iran: about $1 BILLION with more than 40 Iranian crypto exchanges
North Korea: Treasury calls MEXC a hub for its sanctions evasion
It also moved about $22 MILLION for Iran’s central bank, the Revolutionary Guard and its Qods Force.
MEXC’s own rules ban users in Iran and North Korea, but Treasury says weak anti-money laundering controls let them through.
It was still trading with sanctioned Russian exchange Garantex as recently as June 2026, more than 4 years after the US blacklisted it.
“Either you support the Iranian regime, or you have access to the U.S. financial system,” Treasury Secretary Scott Bessent said.
