Wire · regulatory
Treasury Is Cutting MEXC Off From U.S. Banks Over $16 Billion in Illicit Transactions. What ...
◆ Sectors
◆ Geography
◆ Source
◆ Verified
Fusion42 · 7 November 2026 · Fusion42 review
The U.S. Treasury's FinCEN has ordered U.S. financial institutions to cut off MEXC Global, an offshore cryptocurrency exchange, for facilitating at least $16 billion in illicit transactions, including sanction evasion related to Russia and Iran. The ban will take effect 30 days after publication in the Federal Register, blocking U.S. banks from transfers to and from MEXC but leaving customer wallets on the exchange intact.
This Wire brief sits within Fusion42's coverage of Crypto & Web3, and 5 sources have reported it between 7 Nov 2026 and 8 Nov 2026.
◆ ◆ The Wire takeaway
You must prepare for U.S. banks cutting off MEXC's transfer routes within a month. If you rely on MEXC for crypto transactions, find alternative compliance-safe channels now or risk losing access.
◆ Coverage
5 sources · first reported 7 Nov 2026 · latest 8 Nov 2026
◆ Related on Wire
◆ Topics