Treasury cuts off MEXC Global over alleged $16 billion in Iran, North Korea and Russia-linked transactions

The U.S. Treasury has cut off crypto exchange MEXC Global from the U.S. financial system, alleging it processed $16 billion in transactions tied to Iran, North Korea and Russia. The action is a major sanctions enforcement step against a large offshore exchange. Traders should watch for liquidity disruptions on MEXC and broader risk-off pressure on exchanges with weak compliance records.