Operation Economic Outcast Severs MEXC Global’s Access to the U.S. Financial System

CVC Exchanger Facilitated at Least $16 Billion in Illicit Finance, Including for IRGC-Qods ForceWASHINGTON—Today, as part of Operation Economic Outcast, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order effectively cutting off MEXC Global’s access to the U.S. financial system. MEXC Global is a convertible virtual currency (CVC) exchanger that has facilitated at least $16 billion in illicit transactions connected to Iranian, North Korean, and Russian sanctions evasion, as well as cybercrime, including by transacting directly with sanctioned actors. “Financial institutions cannot have it both ways: Either you support the Iranian regime, or you have access to the U.S. financial system,” said Secretary of the Treasury Scott Bessent. “Treasury will continue to sever the Iranian regime’s economic lifelines and thwart its desperate attempts to circumvent U.S.