U.S. Treasury Cuts Off MEXC Exchange From U.S. Financial System
(2 hours ago) · 1 source · Summarized by CryptoBipto
The U.S. Treasury Department has severed MEXC, a cryptocurrency exchange, from the U.S. financial system over allegations of $16 billion in illicit financial flows. The action reportedly involves FinCEN, the Treasury's financial crimes enforcement arm, targeting the exchange's access to U.S. banking and financial infrastructure.
WHY IT MATTERS
When the U.S. Treasury 'cuts off' a company from the U.S. financial system, it means that American banks and financial companies are prohibited from doing business with that entity.
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SOURCES
- bitcoinmagazine.com
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