The US Treasury's Financial Crimes Enforcement Network (FinCEN) has issued a final order against MEXC Global, a cryptocurrency exchange.
Source
"US Treasury Sanctions MEXC Over Alleged Illicit Flows" — Bitcoin Magazine
This article is Bitcoincryptos' summary and analysis of reporting originally published by Bitcoin Magazine. Read the full original report at the link above.
The order, issued under section 9714(a), will prevent US financial institutions from transacting with MEXC for 30 days after publication in the Federal Register.
The sanction is based on allegations of at least $16 billion in illicit activity, which FinCEN claims to have identified through its monitoring of financial transactions.