FinCEN orders U.S. financial institutions to stop all fund transfers with crypto exchange MEXC Global, citing at least $16 billion in illicit flows
- Treasury describes MEXC as a top-20 exchange processing over $1 billion a day as of September 2026.
- Other figures cited by Treasury: $232 million in direct transactions with U.S.-, EU- and UK-sanctioned entities, at least $26 million benefiting the OFAC-sanctioned A7 network, and almost $200 million tied to the A7A5 stablecoin.
- The order does not change existing Bank Secrecy Act (including SAR) or OFAC obligations; violations can bring civil or criminal penalties.
- For compliance and fraud teams: expect MEXC to show up in ransomware and scam cash-out tracing; screen outbound and inbound crypto flows against it before the effective date.
Sources: U.S. Treasury: Operation Economic Outcast Severs MEXC Global's Access to the U.S. Financial System (Nov 6) · FinCEN Federal Register notices