🏛️ U.S. Treasury cuts MEXC off from the financial system — $16 billion
The U.S. Treasury ordered U.S. financial institutions to stop transferring funds to and from MEXC, after saying the platform facilitated at least $16 billion in illicit transactions between May 2021 and May 2026.
Details from the Financial Crimes Enforcement Network order:
• About $1.5 billion linked to evading Russian sanctions, including $232 million involving entities subject to U.S., European, and British sanctions
• About $1 billion in direct transactions with more than 40 Iranian platforms
• The ban takes effect 30 days after publication in the Federal Register, with no expiration date
MEXC said it is operating normally, users’ funds are safe, and it is reviewing the order with its legal teams. OKX’s founder asked users on November 7 not to send funds directly from MEXC to OKX.
📊 The number that changed the story: $16 billion — the largest platform to face an order under this law, after Bitzlato in 2023 and PM2BTC in 2024, which were much smaller.
What does all this mean? This isn’t a ban on users or an asset freeze — but the divide between compliant and non-compliant platforms is growing, in the same week Coinbase won a federal license.
Quick question: Do you think this news will scare the market or strengthen compliant platforms? Write “scare” or “strengthen.”
Source: U.S. Treasury, The Block — November 10, 2026
#Crypto
The U.S. Treasury ordered U.S. financial institutions to stop transferring funds to and from MEXC, after saying the platform facilitated at least $16 billion in illicit transactions between May 2021 and May 2026.
Details from the Financial Crimes Enforcement Network order:
• About $1.5 billion linked to evading Russian sanctions, including $232 million involving entities subject to U.S., European, and British sanctions
• About $1 billion in direct transactions with more than 40 Iranian platforms
• The ban takes effect 30 days after publication in the Federal Register, with no expiration date
MEXC said it is operating normally, users’ funds are safe, and it is reviewing the order with its legal teams. OKX’s founder asked users on November 7 not to send funds directly from MEXC to OKX.
📊 The number that changed the story: $16 billion — the largest platform to face an order under this law, after Bitzlato in 2023 and PM2BTC in 2024, which were much smaller.
What does all this mean? This isn’t a ban on users or an asset freeze — but the divide between compliant and non-compliant platforms is growing, in the same week Coinbase won a federal license.
Quick question: Do you think this news will scare the market or strengthen compliant platforms? Write “scare” or “strengthen.”
Source: U.S. Treasury, The Block — November 10, 2026
#Crypto
