Source time Edition date
PolicyThe Block
Treasury cuts off MEXC Global over alleged $16 billion in transactions linked to Iran, North Korea and Russia
财政部因涉嫌与伊朗、朝鲜和俄罗斯相关的160亿美元交易而切断MEXC Global
Worth reading to see how a single Treasury cutoff can strand U.S. users on MEXC Global, and who bears the compliance cost when exchanges are accused of facilitating sanctioned flows.
Judgment
MEXC Global’s decision is whether to fight or remediate FinCEN’s money-laundering finding to regain U.S. access; the cost falls first on U.S. users who are cut off, not on the alleged sanctioned-flow counterparties.
Basis
Treasury Secretary Scott Bessent said financial institutions “cannot have it both ways”: either support the Iranian regime or have access to the U.S. financial system. FinCEN issued an order Friday calling MEXC Global a money laundering concern; Treasury alleged $16 billion in transactions connected to Iran, North Korea and Russia and cited “severe deficiencies” in AML controls despite MEXC saying it blocks Iran and North Korea. Treasury had already sanctioned Nobitex in June and BitBank in September.
- June: Nobitexthen
- Sept: BitBankthen
- Fri: MEXC order
Unclear The source does not say whether MEXC Global will challenge the order, how U.S. users’ funds or withdrawal access are affected, or which specific transactions make up the $16 billion.
Next Check FinCEN’s order docket and MEXC Global’s next public statement for a challenge, remediation plan, or user-withdrawal instructions.