# US Treasury cuts MEXC off from American banks as the European Union builds a crypto unit against Russian sanctions evasion

The Financial Crimes Enforcement Network's order cites at least $16 billion in alleged illicit flows tied to Iran, North Korea and Russia, and the EU unit will run for 12 months with Ukrainian and British support.

- Published: 2026-11-09T05:43:40.268Z
- Canonical: https://polylog.news/crypto/2026-11-09/us-treasury-cuts-mexc-off-from-american-banks-as-the-europea
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/business/2026/11/07/u-s-treasury-moves-to-cut-off-crypto-exchange-mexc-over-usd16-billion-in-alleged-illicit-flows), [Polylog editors](https://polylog.news), [FinCEN](https://www.fincen.gov/system/files/2026-11/MEXC-Section-9714.pdf), [Decrypt](https://decrypt.co/382758/treasury-cuts-off-crypto-exchange-mexc-us-financial-system), [CoinCentral](https://coincentral.com/how-the-eus-new-12-month-crypto-task-force-plans-to-trace-russia-linked-wallets), [Elliptic](https://www.elliptic.co/insights/crypto-regulatory-affairs-eu-sanctions-target-a7a5-ruble-backed-stablecoin/)

The US Treasury's Financial Crimes Enforcement Network (FinCEN) has barred American financial institutions from processing any funds transfers to or from MEXC Global, CoinDesk reported. Treasury cites at least $16 billion in illicit flows l…

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