The US Treasury Department has taken action: cryptocurrency exchange MEXC Global has been removed from the US financial system. According to the Treasury Department, this top 20 exchange facilitated at least $16 billion in illicit transactions, related to sanctions evasion and cybercrime, involving Iran, North Korea, and Russia. In short, the authorities determined that it opened the door for money that shouldn't have been there, and have severed its connection to the US financial system. This means that US banks, payment and clearing channels will essentially be unable to do business with it, and access to US dollar funds will become much more difficult. For exchanges, being named by the Treasury Department is a serious matter, not something that can be resolved simply by paying a fine. When choosing a platform, in addition to transaction fees and the type of cryptocurrency, compliance is becoming increasingly important.