The U.S. Treasury Cracks Down on MEXC: $16 Billion in Illicit Funds
On November 6, the U.S. Treasury officially took action: FinCEN designated MEXC a “primary money laundering concern,” finding that it had handled at least $16 billion in illicit funds over five years. Nearly $1.5 billion was linked to Russian sanctions evasion, and $232 million went directly to sanctioned entities. Astonishingly, the Russian exchange Garantex was blacklisted by the U.S. back in 2022, yet MEXC continued doing business with it and its successor, Grinex, as recently as this June.
Once the notice is published in the Federal Register 30 days later, all U.S. banks will have to cut off financial dealings with MEXC. This isn’t about adding it to a sanctions list—it’s about cutting off its access to the dollar, effectively booting an exchange with over $1 billion in daily trading volume out of the U.S. financial system.
Put simply, just one week after the $6.3 billion Binance theft, this latest wave of “economic outcast” measures from Washington is clearly aimed at the entire offshore exchange sector. No one can afford to keep pretending compliance doesn’t matter in 2026.
(Data source: U.S. Treasury FinCEN announcement, November 6)
#MEXC #美国财政部 #FinCEN #交易所监管 #Crypto
On November 6, the U.S. Treasury officially took action: FinCEN designated MEXC a “primary money laundering concern,” finding that it had handled at least $16 billion in illicit funds over five years. Nearly $1.5 billion was linked to Russian sanctions evasion, and $232 million went directly to sanctioned entities. Astonishingly, the Russian exchange Garantex was blacklisted by the U.S. back in 2022, yet MEXC continued doing business with it and its successor, Grinex, as recently as this June.
Once the notice is published in the Federal Register 30 days later, all U.S. banks will have to cut off financial dealings with MEXC. This isn’t about adding it to a sanctions list—it’s about cutting off its access to the dollar, effectively booting an exchange with over $1 billion in daily trading volume out of the U.S. financial system.
Put simply, just one week after the $6.3 billion Binance theft, this latest wave of “economic outcast” measures from Washington is clearly aimed at the entire offshore exchange sector. No one can afford to keep pretending compliance doesn’t matter in 2026.
(Data source: U.S. Treasury FinCEN announcement, November 6)
#MEXC #美国财政部 #FinCEN #交易所监管 #Crypto
