Treasury Cuts Crypto Exchange MEXC Off From US Financial System

The U.S. Treasury's FinCEN has ordered American financial institutions to cut off all transfers to and from crypto exchange MEXC, part of an operation called Economic Outcast. Treasury alleges MEXC facilitated $16 billion in illicit finance linked to Iran, North Korea and Russia. The action isolates a major offshore exchange from the U.S. banking system and signals heightened enforcement risk for platforms with weak compliance controls.