US Treasury cuts off MEXC over alleged $16B in illicit transactions

The US Treasury bureau FinCEN on Friday ordered US financial institutions to stop processing transfers involving MEXC Global.
This story was originally published by Cointelegraph.

The US Treasury bureau FinCEN on Friday ordered US financial institutions to stop processing transfers involving MEXC Global.
This story was originally published by Cointelegraph.
The U.S. Treasury’s Financial Crimes Enforcement Network issued a final order Friday that will cut offshore exchange MEXC Global off from the American banking system over alleged links to sanctions…
The United States Treasury Department sanctioned four individuals and 41 firms connected with Prince Group of Cambodia on November 5. The firms that were targeted are engaged in offshore businesses…
FinCEN’s order, part of Operation Economic Outcast, bars U.S. institutions from any transfers to or from MEXC, which Treasury says facilitated $16 billion in illicit finance tied to Iran, North Korea…
Treasury says it has severed MEXC Global from the U.S. after it allegedly supported $16 billion in transactions connected to Iran.
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