US Treasury Moves to Cut MEXC Off From American Financial System
Edited by Steinar Vigdel Kolnes, Editor, Oslo
FinCEN says MEXC Global facilitated at least $16 billion in suspected illicit crypto activity linked to sanctions evasion and cybercrime.
The U.S. Treasury Department has directed American financial institutions to stop processing transactions involving cryptocurrency exchange MEXC Global.
The Treasury’s Financial Crimes Enforcement Network (FinCEN) alleges that the exchange facilitated at least $16 billion in illicit financial activity, according to the agency’s announcement Friday.
Authorities said the suspected activity includes transactions connected to sanctions evasion, cybercrime and other illegal operations.
FinCEN announced the measure as part of a broader enforcement effort referred to as Operation Economic.
Source: Bitcoin.com News
