US Treasury cuts off money exchanger MEXC over Iran, North Korea, Russia transactions

By Reuters Today, 10:29 pm

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The US Treasury Department’s Financial Crimes Enforcement Network division issues an order effectively cutting off virtual currency exchanger MEXC Global from the US financial system over transactions that it says are linked to sanctions evasion by Iran, North Korea and Russia.

FinCEN, the Treasury’s anti-money laundering unit, says that the order prevents US financial institutions from processing fund transfers involving Seychelles-incorporated MEXC Global, which it says has facilitated at least $16 billion in illicit transactions linked to Iran, North Korea and Russia, as well as transactions with other sanctioned actors.