US Treasury Bans MEXC Exchange Over Alleged $16B in Illicit Transactions

The US Treasury has ordered the crypto exchange MEXC Global to be cut off from the American financial system over allegations that it processed $16.7 billion linked to illicit activity. The November 6 announcement states that the Financial Crimes Enforcement Network (FinCEN) will prohibit US financial institutions from sending or receiving funds involving MEXC. This restriction covers cryptocurrency transfers.