Is this targeting Russia or Iran?
U.S. Treasury sanctioned crypto exchange MEXC from the U.S. financial system, alleging that it handled at least $16B tied to Iranian, North Korean and Russian sanctions evasion and cybercrime.
Once in effect, it will bar U.S. financial institutions from sending crypto funds to/from from MEXC.
MEXC is incorporated in the Seychelles and operates in multiple jurisdictions.
This action by Treasury's Financial Crimes Enforcement Network (FinCEN) was issued under Section 9714 of the Combating Russian Money Laundering Act. Section 9714 can only be used against foreign institutions tied to Russian illicit finance, so the order formally rests on MEXC's alleged Russian dealings.
https://www.coindesk.com/business/2026/11/07/u-s-treasury-moves-to-cut-off-crypto-exchange-mexc-over-usd16-billion-in-alleged-illicit-flows #Crypto #CryptoCurrencies #CryptoExchange #FinCen #USTreasury #MEXC #MoneyLaundering #Iran #Russia #NorthKorea #CyberCrime #CryptoCrime #Sanctions #Section9714