U.S. Treasury blocks MEXC from banking system over alleged $16 billion in illicit flows
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On Friday, Treasury bureau FinCEN ordered U.S. financial institutions to halt transfers involving cryptocurrency exchange MEXC Global, cutting it off after alleging at least $16 billion in activity tied to sanctions evasion and cybercrime from May 2021 through May 2026, including dealings benefiting Iran, Russia and North Korea targets and roughly $1.5 billion linked to Russian evasion; the measure begins 30 days after Federal Register publication.
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