The US Treasury has ordered American financial institutions to stop all fund transmittals with MEXC Global, the crypto exchange. The order was issued by FinCEN, the Treasury’s financial crimes unit, on 6 November 2026. It cites suspicious transaction flows of $16.7 billion linked to MEXC between May 2021 and May 2026.
FinCEN designated MEXC as a primary money laundering concern under section 9714 of the Combating Russian Money Laundering Act. The designation does not freeze assets or place the exchange on the OFAC sanctions list. The order takes effect 30 days after its publication in the Federal Register.
Treasury cites Iran, North Korea and Russia
The Treasury links the flows to Iran, North Korea and Russia. The order is part of a campaign against Iranian financial networks that the department launched in August, which it calls Economic Outcast.
The Treasury ranks MEXC among the top twenty crypto platforms globally. Previous actions under the same provision hit Bitzlato in January 2023 and PM2BTC in September 2024.
MEXC says withdrawals remain open
MEXC says withdrawals remain open and that it does not officially accept US clients. The exchange has announced an independent review of its anti-money laundering and sanctions controls.
The order could cut dollar trading pairs on the platform, limiting access to USD-denominated and USDC liquidity there.
Source: FinCEN
