---
title: FinCEN orders U.S. financial institutions to stop all fund transfers with crypto exchange MEXC Global, citing at least $16 billion in illicit flows | ctxsec
url: https://ctxsec.com/items/fincen-9714-order-mexc-global-16b-illicit-flows-nov-6
description: "Treasury says FinCEN issued an order under section 9714(a) of the Combating Russian Money Laundering Act, as part of Operation Economic Outcast, prohibiting covered U.S. financial institutions from any transmittal of funds to or from MEXC Global. Treasury says MEXC facilitated at least $16 billion between May 2021 and May 2026 tied to Iranian, North Korean and Russian sanctions evasion and cybercrime, including nearly $1.5 billion linked to Russian sanctions evasion and transactions with Garantex/Grinex as recently as June 2026. The order takes effect 30 days after Federal Register publication."
status: "official (U.S. Treasury press release sb0685 and FinCEN Federal Register notice, Nov 6)"
published: 2026-11-07
---

> Treasury says FinCEN issued an order under section 9714(a) of the Combating Russian Money Laundering Act, as part of Operation Economic Outcast, prohibiting covered U.S. financial institutions from any transmittal of funds to or from MEXC Global. Treasury says MEXC facilitated at least $16 billion between May 2021 and May 2026 tied to Iranian, North Korean and Russian sanctions evasion and cybercrime, including nearly $1.5 billion linked to Russian sanctions evasion and transactions with Garantex/Grinex as recently as June 2026. The order takes effect 30 days after Federal Register publication.

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official (U.S. Treasury press release sb0685 and FinCEN Federal Register notice, Nov 6)

2026-11-07

### 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)](https://home.treasury.gov/news/press-releases/sb0685) · [FinCEN Federal Register notices](https://www.fincen.gov/resources/statutes-regulations/federal-register-notices)