FinCEN bans fund transfers involving MEXC Global
Effective Dec. 10, 2026, the order bars U.S. financial institutions from transmitting funds linked to MEXC Global and its affiliates.
FinCEN issued an order, under section 9714(a) of the Combating Russian Money Laundering Act as amended by section 6106(b) of the National Defense Authorization Act for Fiscal Year 2022, finding that MEXC Global and its subsidiaries, branches, offices and any successor entities operating outside the United States constitute a financial institution of primary money-laundering concern. The order prohibits any covered financial institution from transmitting funds that involve MEXC Global, effective Dec. 10, 2026.
FinCEN's finding cites MEXC Global's facilitation of funds transfers by Russia-affiliated illicit actors, sanctions-evasion activity, and transactions tied to Russian darknet markets. The agency also determined that the exchanger has, in parallel, moved billions of dollars benefiting Iran and its proxies, financial facilitators of the Democratic People's Republic of Korea, and other cyber-crime actors.
The prohibition applies to MEXC Global Ltd/MX Global Ltd (Seychelles); MEXC Estonia Ö (Estonia); GIDA Technology AG (Switzerland); MXC Global Ltd (United Kingdom); and formerly incorporated Singapore entities MEXC Global Foundation Ltd and MEXC Singapore Pte Ltd, as well as any successor entities. Covered financial institutions must ensure that no transmittal of funds involving any of these entities occurs.
MEXC Global, founded in 2018 and incorporated in the Seychelles, operates in and across over 170 countries through a network of current and former subsidiaries. As of June 2026 it processed more than USD 1 billion in daily transactions and held approximately USD 5 billion in reserve assets, placing it among the 20 largest convertible virtual-currency exchangers by trading volume. By December 2025 the platform commanded approximately nine percent of global market share for centralized CVC exchangers.
Domestic banks, credit unions, money-services businesses and other covered institutions must adjust their compliance programs to block any fund transfers that involve MEXC Global. Questions may be directed to FinCEN's Regulatory Support Section via the agency's contact portal.
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