The U.S. Treasury Department has ordered MEXC Global to be excluded from the U.S. financial system over allegations involving $16.7 billion in illicit transactions. An announcement on November 6 said the Financial Crimes Enforcement Network (FinCEN) would prohibit U.S. financial institutions from transferring funds to or receiving funds from MEXC, including cryptocurrency. The ban will take effect 30 days after the order is published in the Federal Register. The order covers transactions involving customers outside the United States, but does not automatically freeze customer assets or require MEXC to shut down globally. Foreign exchanges and banks may reassess their relationships with MEXC, potentially disrupting deposits, withdrawals, and global liquidity.