FinCEN's MEXC Cutoff Takes Effect Dec. 10, With No End Date Set

FinCEN's order cutting MEXC Global off from U.S. financial institutions takes effect Dec. 10, 2026, and has no end date, according to the notice published in the Federal Register on Tuesday.

Black Mint reported Nov. 6 that the Treasury bureau had issued the order. Publication starts the 30-day clock.

What banks and payment firms have to stop

From Dec. 10, any covered U.S. financial institution is barred from sending funds to or receiving funds from MEXC Global. The order defines a "transmittal of funds" to include crypto as well as dollars. FinCEN kept the power to attach conditions to transfers or grant exemptions later.

The ban reaches beyond one company name. The notice lists MEXC Global Ltd in the Seychelles, MEXC Estonia, GIDA Technology AG in Switzerland and MXC Global Ltd in the UK, plus two former Singapore entities and any successors.

What FinCEN alleges

FinCEN alleges MEXC sent or received nearly $1.5 billion in direct and indirect exposure to transactions tied to Russian sanctions evasion, including $232 million in direct transactions with entities sanctioned by the U.S., EU or UK. The order names Garantex and its successor Grinex among them. These are FinCEN's findings, not a court ruling.

MEXC said on Nov. 7 that it was reviewing the order with its legal and compliance teams and intends "to engage constructively with FinCEN." The exchange said it was "operating normally" and had begun an independent review of its anti-money-laundering and sanctions controls, in a statement on its site.

The order rests on section 9714 of the Combating Russian Money Laundering Act, which lets Treasury block transfers involving a foreign firm it finds to be of "primary money laundering concern" tied to Russian illicit finance. It is separate from an OFAC sanctions listing.

The published order grants no exemptions yet. It says FinCEN may add them later.