CryptoNov 7, 2026, 4:37 AM UTC·1 min read

US Treasury Cuts Off MEXC Global Over Alleged $16 Billion in Transactions

The US Treasury says it has severed crypto exchange MEXC Global from the United States, alleging it supported $16 billion in transactions connected to Iran.

Image: The Block

The US Treasury has cut off MEXC Global from the United States, alleging that the crypto exchange supported roughly $16 billion in transactions connected to Iran. The announcement also ties the platform to activity involving North Korea and Russia.

The move effectively shuts the trading platform out of the American financial system. The Treasury's accusation centers on the scale of the flows: $16 billion is a large figure for a single exchange, and the allegation is that the platform facilitated them despite the sanctions risks involved.

Why it matters

Iran, North Korea and Russia are all among the countries most closely watched by US sanctions enforcers, and crypto exchanges have repeatedly come under scrutiny as possible routes for moving funds around restrictions. Action against a platform of this size signals that Washington is willing to use its financial tools directly against offshore exchanges serving global customers.

For users, the practical consequences depend on how the restrictions are applied. Details on the exact legal mechanism, on any effect for customers' funds and on MEXC Global's response were not part of the information available at the time of writing.

What comes next

The key questions are whether MEXC Global contests the allegations, how other exchanges and payment providers react, and whether the Treasury follows up with further measures against related entities or individuals.

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Tags:mexctreasurysanctionsirancrypto exchangeregulation