FinCEN Labels MEXC ‘Primary Money Laundering Concern,’ Bars US Financial Transfers

Cointime update: The US Treasury’s FinCEN issued an order on November 6 designating MEXC Global a “primary money laundering concern,” barring US financial institutions from sending or receiving funds for the exchange, effective December 10 with no expiration. FinCEN cited nearly $1.5 billion in suspected Russian sanctions-evasion flows over the five years to May 2026, $232 million in direct transactions with sanctioned parties, at least $26 million tied to the A7 network and about $200 million in A7A5 ruble stablecoin activity. The order does not apply to MEXC’s US-registered entity.