US Treasury Blacklists MEXC Over $16B in Alleged Illicit Crypto Activity

The U.S. Treasury's FinCEN ordered American financial institutions to stop processing transactions involving crypto exchange MEXC Global, alleging the platform facilitated at least $16 billion in illicit activity tied to sanctions evasion and cybercrime. The action cuts MEXC off from the U.S. banking system and signals heightened enforcement against offshore exchanges. Traders should watch for liquidity outflows and wider contagion risk across exchanges facing similar scrutiny.