US Treasury Department Moves MEXC Global Off from US Financial System Over $16B in Illegal Transactions The US Financial Crimes Enforcement Network (FinCEN) has issued an order banning US financial institutions from processing money transfers or from Crypto Exchange MEXC Global. FinCEN said MEXC facilitated at least $16 billion in transactions related to sanctions relief, cybercrime and other illegal activities between May 2021 and May 2026, including nearly $1.5 billion related to Russian sanctions and about $1 billion in direct transactions with Iranian crypto exchanges. FinCEN cited serious deficiencies in MEXC's anti-money laundering controls. The order will take effect 30 days after publication in the Federal Register.