The U.S. Treasury Department has taken action to cut off crypto exchange MEXC Global from the American financial system, citing its role in facilitating at least $16 billion in illicit transactions. The order, issued through the Financial Crimes Enforcement Network, accuses MEXC of serving as a major conduit for sanctions evasion and cybercrime linked to Iran, North Korea, and Russia.
MEXC, one of the world’s 20 largest crypto exchanges, is now part of a broader effort dubbed Operation Economic Outcast. The move underscores the Treasury’s ongoing efforts to curb financial activities that evade international sanctions and support illicit activities.
Meanwhile, the Bitcoin market continues to see volatility, with the price of BTC currently at $74,619, down 1.66% over the past 24 hours. The daily trading volume stands at $864.9 million, with the price ranging between $73,963 and $76,106.
Spot Bitcoin ETFs have experienced significant outflows recently, shedding $411.9 million on November 6, extending a two-day outflow streak. Cumulative net inflows for these ETFs now stand at $56.2 billion, with total net assets valued at $96.4 billion.