Washington will keep turning access to dollar clearing into its main penalty against institutions it opposes, which demonstrates the dollar's centrality now while pushing allies and targets to build non-dollar payment routes over the longer run.
weakening · confidence 35 · Emerging (watchlist) · tracking since November 7, 2026 · updated November 12, 2026
Daily conviction score, 0 to 100. Higher means the thesis is more strongly corroborated.
Now 35 · -2 since Nov 11 · ranged 35 to 37
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Treasury's order cutting MEXC off from US correspondent banking over about $16 billion in alleged illicit flows uses dollar-clearing access as the penalty itself, now applied to crypto venues as well as banks.
The US Treasury ordered American banks to cut off crypto exchange MEXC over an alleged $16 billion in illicit flows. Separately, Japan is moving to pay the International Criminal Court early because US sanctions threaten the court's access to dollar settlement. This shows dollar clearing being used as the penalty and an ally working around it.
Supporting · November 8, 2026
US Treasury Moves to Cut MEXC Off From US Banks as Binance Closes Accounts in Several European Countries
Treasury's order cutting MEXC off from US correspondent banking over about $16 billion in alleged illicit flows uses dollar-clearing access as the penalty itself, now applied to crypto venues as well as banks.
Bitcoin MagazineSupporting · November 7, 2026
Japan Moves to Pay the International Criminal Court Early as US Sanctions Threaten the Court's Access to Dollar Settlement
The US Treasury ordered American banks to cut off crypto exchange MEXC over an alleged $16 billion in illicit flows. Separately, Japan is moving to pay the International Criminal Court early because US sanctions threaten the court's access to dollar settlement. This shows dollar clearing being used as the penalty and an ally working around it.
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