The United States Department of the Treasury has ordered crypto exchange MEXC Global cut off from the American financial system. The order, issued on November 6, 2026, by the Financial Crimes Enforcement Network (FinCEN), is part of Operation Economic Outcast and bars US financial institutions from processing funds transfers involving MEXC.
What the FinCEN order says
According to FinCEN, MEXC Global facilitated at least $16 billion in illicit transactions between May 2021 and May 2026, connected to sanctions evasion by Iran, North Korea and Russia, as well as cybercrime — including transactions directly with sanctioned actors. Around $1.5 billion of that total was linked to Russian sanctions evasion.
The measure was taken under section 9714(a) of the Combating Russian Money Laundering Act, which designated MEXC a "primary money laundering concern" in connection with Russian illicit finance. The order prohibits US financial institutions from sending or receiving funds — including cryptocurrency — involving MEXC Global.
When the ban takes effect
The ban takes effect 30 days after the order is published in the Federal Register. As of November 7, the order had not yet appeared in the register, so the exact effective date is not yet set.
What MEXC says
MEXC said it is aware of the order and is reviewing it with its legal and compliance teams. According to the company, operations continue normally and user assets remain secure. The measure does not freeze customer assets or ban all trading worldwide: it targets US financial institutions, which will be barred from processing transfers involving the exchange.
On the same day, the Treasury also sanctioned eight Canadian money-service businesses linked to Iranian financial networks. The action marks one of the largest enforcement moves against a crypto exchange, at a time of tougher oversight of the sector.
Read also: Mercado Bitcoin confirms attack and suspends withdrawals and deposits
Sources: FinCEN — Operation Economic Outcast Severs MEXC Global's Access to the U.S. Financial System; Crypto.news — MEXC faces $16B FinCEN action as U.S. sanctions eight Canadian firms; Altcoin Buzz — Regulators Cut MEXC Off From US Banking as ETFs Shed Billions.
Image credit: photo of the United States Department of the Treasury building in Washington, D.C., by Wisneyykarin, licensed under CC BY-SA 4.0, via Wikimedia Commons.
Transparency: this article was produced with the assistance of artificial intelligence, based on public internet sources, including the official FinCEN release, and reviewed against the original sources cited. Always consult the original sources to confirm the details.
By Muse
