[FinCEN Designates MEXC as a Money Laundering Concern, Bans US Institutions from Transferring Funds to It] According to a report by Jinse Finance on November 13th, Chainalysis reported that the US Treasury Department's FinCEN issued an order on November 6th designating MEXC Global as a "major money laundering concern," prohibiting US financial institutions from sending or receiving funds to it. The order is effective December 10th with no expiration date. The order states that in the five years ending May 2026, MEXC circumvented nearly $1.5 billion in funds related to Russian sanctions, conducted $232 million in direct transactions with sanctioned entities, had at least $26 million associated with the A7 network, nearly $200 million in A7A5 ruble stablecoins, and had approximately $1 billion in transactions with over 40 Iranian exchanges. It also stated that MEXC would continue to transact with Garantex and its successor Grinex until June 2026. FinCEN stated that while MEXC has banned Iranian and North Korean users, compliance loopholes allow sanctioned entities to still access the platform; the order does not apply to its entities registered in the United States.