U.S. Treasury Cuts Off MEXC Global Over Alleged $16 Billion in Sanctioned Transactions
(2 hours ago) · 1 source · Summarized by CryptoBipto
The U.S. Treasury Department has severed MEXC Global's access to the U.S. financial system over allegations that the cryptocurrency exchange processed approximately $16 billion in transactions linked to Iran, North Korea, and Russia. The action targets what the Treasury describes as sanctions evasion facilitated through the exchange. MEXC Global is a major offshore crypto exchange.
WHY IT MATTERS
Economic sanctions are rules that prevent people and companies in one country from doing business with certain other countries or individuals.
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SOURCES
- theblock.co
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