Wire · regulatory
Treasury Is Cutting MEXC Off From U.S. Banks Over $16 Billion in Illicit Transactions. What ...
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Fusion42 · 7 November 2026 · Fusion42 review
The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) ordered U.S. banks to cut off services to cryptocurrency exchange MEXC due to facilitating $16 billion in illicit transactions, including sanctions evasion related to Russia and Iran. This action blocks financial transfers to and from MEXC through U.S. institutions but leaves customer wallets on the exchange intact, creating potential instability similar to prior exchange collapses.
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 face a closing door to US financial rails if you rely on MEXC. Start seeking alternative onramps now to avoid getting cut off as regulators move fast to choke illicit crypto flows.
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5 sources · first reported 7 Nov 2026 · latest 8 Nov 2026
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