FinCEN Proposes Restricting U.S. Institutions from Transacting with MEXC
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AI-assisted source synthesis · not an independent investigation.
On November 7, 2026, FinCEN ordered U.S. financial institutions to stop processing fiat or cryptocurrency transfers with MEXC Global, citing MEXC's alleged handling of illicit funds. FinCEN stated that the suspected illicit transactions processed by MEXC during the relevant period totaled up to approximately $16.7 billion, of which approximately $1.5 billion involved sanctions evasion by Russia. The prohibition is based on relevant provisions of the Countering Russian Money Laundering Act and must take effect 30 days after publication in the Federal Register. MEXC responded that users' assets are safe and services are operating normally; FinCEN's restrictions targeting its independent A7 sub-agent remain at the proposal stage.
AI-written from reports · updated yesterday
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- CryptopolitanSelectedFinCEN restricts MEXC’s access to the US financial system over alleged processing of $16.7 billion in illicit funds
FinCEN has ordered US financial institutions to stop processing fiat or cryptocurrency transfers involving MEXC Global, saying the exchange processed up to approximately $16.7 billion in suspected illicit transactions during the relevant period. The ban is based on relevant provisions of the Countering Russian Money Laundering Act and will take effect 30 days after publication in the Federal Register; approximately $1.5 billion involved Russian sanctions evasion. MEXC said user assets are safe and services remain normal, while FinCEN’s separate A7 sub-agent restriction is still at the proposal stage.
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