FinCEN ordered U.S. financial institutions to stop processing transfers involving MEXC Global after Treasury identified the cryptocurrency exchange as a conduit for illicit finance, including North Korean sanctions evasion. Treasury said MEXC Global facilitated at least $16 billion in sanctions-evasion, cybercrime, and other illicit transactions between May 2021 and May 2026, but did not disclose the amount attributable specifically to DPRK activity. The order severs the exchange’s access to the U.S. financial system and takes effect 30 days after publication in the Federal Register.