Treasury is targeting an exchange Americans were never supposed to use, and the real pressure lands on U.S. banks and payment firms. So who actually gains, and why might Coinbase and Robinhood get less than traders expect?
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On Friday, November 6, 2026, Treasury’s Financial Crimes Enforcement Network (FinCEN) moved to cut crypto exchange MEXC Global off from the U.S. financial system. Treasury says MEXC moved at least $16 billion tied to sanctions evasion, cybercrime and other illegal activity from May 2021 to May 2026.
The order is signed and is part of a campaign Treasury calls Operation…
