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FinCEN just cut MEXC Global off from the US financial system. The Treasury cited $16B in alleged transactions tied to Iran, North Korea, and Russia. MEXC is a top-20 exchange by volume. US banks must now stop processing any transfers involving it.
Today's key developments:
• FinCEN just issued a rare "special measure" order against MEXC Global. The order cuts the top-20 exchange off from the US financial system. FinCEN accuses MEXC of facilitating at least $16B in transactions tied to Iran, North Korea, and Russia.
• Bitcoin ETFs bled $430M in a single day as the Nasdaq's AI-driven selloff hit Wall Street. BlackRock's IBIT has now logged five straight sessions of redemptions.
• The Treasury and Federal Reserve quietly withdrew a 2020 financial surveillance proposal. It would have required banks and crypto firms to collect detailed data on certain transactions. The withdrawal came the same day FinCEN sanctioned MEXC.
📰 Read the full Daily Pulse:
https://pulse.tokenmetrics.com/p/2026-11-07-the-us-treasury-just-cut-off-crypto-exchange?utm_source=spreaker&utm_medium=audio&utm_campaign=daily_pulse_podcast🔔 Subscribe for daily crypto market updates!
⚠️ Disclaimer: This content is for educational purposes only and does not constitute investment advice. Always do your own research.
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