MEXC is in deep trouble this time. The US Treasury Department isn't just issuing a fine; it's threatening to remove it from the dollar system. MEXC, commonly known as "Matcha" in Chinese-speaking communities, is an offshore exchange that trades spot and futures contracts. It's famous among retail investors for its rapid listing of new coins. FinCEN, the US Treasury Department's anti-money laundering agency, issued an order accusing MEXC of handling at least $16 billion in illegal transactions between May 2021 and May 2026, involving circumventing sanctions against Iran, North Korea, and Russia, as well as cybercrime. Specifically, the order prohibits US banks and financial institutions from processing any transfers related to MEXC. While it may sound like just a matter of not doing business with the US, the impact is far greater. Dollar transfers almost always go through US banks. Cutting off this route will make it extremely difficult for MEXC to interact with banks, payment companies, and partners handling dollar deposits and withdrawals. MEXC responded that its platform is operating normally and that it has commissioned an independent review of its compliance. Currently, this is only an accusation, not a conviction. The order will only take effect 30 days after it is officially published in the Federal Register. After 30 days, U.S. banks will no longer be able to process any transactions on its behalf.