U.S. Treasury moves to cut off crypto exchange MEXC over $16 billion in alleged illicit flows
The US Treasury Department has barred crypto exchange MEXC from the American financial system, citing $16 billion in transactions linked to Iran, North Korea and Russia. FinCEN issued the order under Operation Economic Outcast, prohibiting US financial institutions from handling transfers connected to the Seychelles-based platform. Following the action, major industry players including Binance, OKX and NatGold Digital moved to restrict transfers, freeze deposits or delist tokens tied to MEXC.
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- ✓ The US Treasury Department cut off crypto exchange MEXC over alleged illicit flows.
- ✓ FinCEN's order bars US institutions from any transfers to or from MEXC.
- ✓ The Treasury accused MEXC of facilitating transactions linked to Iran, North Korea and Russia.
- ✓ Binance and OKX took steps to block transfers or warn users about deposit freezes.
What changed
FinCEN issued an order cutting MEXC Global off from the US financial system.
Live updates
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US Treasury Cuts Off MEXC Over $16 Billion in Illicit Flows
The US Treasury Department has barred crypto exchange MEXC from the American financial system, citing $16 billion in transactions linked to Iran, North Korea and Russia. FinCEN issued the order under Operation Economic Outcast, prohibiting US financial institutions from handling transfers connected to the Seychelles-based platform. Following the action, major industry players including Binance, OKX and NatGold Digital moved to restrict transfers, freeze deposits or delist tokens tied to MEXC.
Why it matters
The Treasury targets an exchange that Americans were not supposed to use, placing immediate pressure on payment firms and banks. The action highlights ongoing regulatory crackdowns on digital asset platforms accused of evading international sanctions.
What is confirmed
- The US Treasury Department cut off crypto exchange MEXC over alleged illicit flows.
- FinCEN's order bars US institutions from any transfers to or from MEXC.
- The Treasury accused MEXC of facilitating transactions linked to Iran, North Korea and Russia.
- Binance and OKX took steps to block transfers or warn users about deposit freezes.
Still unconfirmed
- NatGold Digital announced an immediate delisting of NATG from MEXC following the US Treasury action.
What to watch next
- Further actions by other major crypto exchanges against MEXC accounts
- Response from MEXC leadership regarding the Treasury and FinCEN sanctions
confidence 100%Sources used for this update (16)
- CoinDesk — U.S. Treasury moves to cut off crypto exchange MEXC over $16 billion in alleged illicit flows
- The Times of Israel — US Treasury cuts off money exchanger MEXC over Iran, North Korea, Russia transactions
- The Block — Treasury cuts off MEXC Global over alleged $16 billion in transactions linked to Iran, North Korea and Russia
- bloomingbit — FinCEN Blocks MEXC’s Access to US Financial System Over Alleged Iran, North Korea, Russia Sanctions Evasion
- Morningstar — NatGold Digital Announces Immediate Delisting of NATG from MEXC Following U.S. Treasury Action
- MLex — Crypto exchange cut off from US financial system for sanctions violations
- The Defiant — OKX Warns MEXC Users of Deposit Freezes Ahead of FinCEN Cutoff
- Altcoin Buzz — Regulators Cut MEXC Off From US Banking as ETFs Shed Billions
- NK News — US blacklists Seychelles-based crypto exchange over North Korean laundering
- finance.yahoo.com — Binance Blocks MEXC Transfers after US Treasury Alleges $16.7B in Illicit Flows
- finance.yahoo.com — Treasury Cuts Crypto Exchange MEXC Off From US Financial System
- finance.yahoo.com — Treasury Says Crypto Exchange MEXC Moved at Least $16 Billion ...
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