Treasury just cut a top 20 crypto exchange off the dollar pipes.
FinCEN issued an order yesterday under Operation Economic Outcast that bars US banks and other financial institutions from sending or receiving funds with MEXC Global. Decrypt and the Treasury release both have it. The charge is that MEXC moved at least $16B in illicit flows tied to Iran, North Korea and Russia sanctions evasion from May 2021 to May 2026.
MEXC says it is operating normally, user assets are secure, and it started an independent AML review. The order kicks in 30 days after Federal Register publication, so the clock is not live yet.
For traders this is the reminder that dollar access is the real choke point. $BTC usually reacts when Washington swings at market plumbing.
FinCEN issued an order yesterday under Operation Economic Outcast that bars US banks and other financial institutions from sending or receiving funds with MEXC Global. Decrypt and the Treasury release both have it. The charge is that MEXC moved at least $16B in illicit flows tied to Iran, North Korea and Russia sanctions evasion from May 2021 to May 2026.
MEXC says it is operating normally, user assets are secure, and it started an independent AML review. The order kicks in 30 days after Federal Register publication, so the clock is not live yet.
For traders this is the reminder that dollar access is the real choke point. $BTC usually reacts when Washington swings at market plumbing.
