US Treasury cuts MEXC Global off from US financial system FAST-MOVING

MEXC Global US Treasury FinCEN cryptocurrency sanctions Operation Economic Outcast

The US Department of the Treasury, through its Financial Crimes Enforcement Network (FinCEN), has issued an order to sever the cryptocurrency exchange MEXC Global from the US financial system. The move follows accusations that the exchange facilitated at least $16 billion in illicit transactions between May 2021 and May 2026.

FinCEN alleges that MEXC handled transactions linked to sanctions evasion and cybercrime involving Iran, Russia, and North Korea. Specifically, the agency noted approximately $1.5 billion in transactions tied to Russian sanctions evasion and $232 million in direct transactions with sanctioned entities. The order also cited transactions with sanctioned Russian exchanges Garantex and Grinex as recently as June 2026.

The order, part of the Treasury’s Operation Economic Outcast, prohibits US financial institutions from processing money transfers involving MEXC Global. The measure is set to take effect 30 days after its publication in the Federal Register. Treasury Secretary Scott Bessent stated that the action aims to thwart attempts to circumvent US sanctions using digital assets.

Entities

Financial Crimes Enforcement Network · MEXC Global · Scott Bessent · US Department of the Treasury · United States

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] MEXC Global allegedly facilitated at least $16 billion in illicit transactions between May 2021 and May 2026. cointelegraph.com · decrypt.co · cryptonomist.ch
[● 2 SOURCES] The action is part of a US Treasury campaign called Operation Economic Outcast. cointelegraph.com · decrypt.co
[● 2 SOURCES] The order takes effect 30 days after its publication in the Federal Register. cointelegraph.com · decrypt.co
[● 3 SOURCES] The order prohibits US financial institutions from processing funds transfers involving MEXC Global. cointelegraph.com · decrypt.co · cryptonomist.ch
[○ 1 SOURCE] MEXC Global allegedly transacted with sanctioned Russian exchanges Garantex and Grinex as recently as June 2026. decrypt.co
[● 2 SOURCES] Approximately $1.5 billion in transactions were allegedly linked to Russian sanctions evasion. cointelegraph.com · decrypt.co
[○ 1 SOURCE] FinCEN reported $232 million in direct transactions with sanctioned entities. decrypt.co
[● 3 SOURCES] The US Treasury issued an order cutting MEXC Global off from the US financial system. cointelegraph.com · decrypt.co · cryptonomist.ch