U.S. Treasury Moves to Cut Off Crypto Exchange MEXC Over Alleged $16B Illicit Flows

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The U.S. Treasury has taken action to cut off the cryptocurrency exchange MEXC from the American financial system. The Treasury tied the move to its broader campaign against Iran, although the order itself is based on MEXC's alleged role in Russian illicit finance. The exchange is accused of facilitating roughly $16 billion in suspicious transactions. The article describes the measure as a targeted restriction rather than a broad ban on crypto activity. Further details on the timing and enforcement of the order were not provided in the source material.

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