The U.S. Department of the Treasury has issued an order cutting cryptocurrency exchange MEXC Global off from the country’s financial system, alleging the platform facilitated large volumes of transactions tied to sanctions evasion, cybercrime, and other illicit activity. The Treasury’s Financial Crimes Enforcement Network (FinCEN) said MEXC processed transactions connected to sanctioned groups in Iran, Russia, and North Korea between May 2021 and May 2026. The agency cited figures including approximately $1.5 billion tied to Russian sanctions evasion, according to the government release.