The four individuals sanctioned by the U.S. Treasury on November 5, 2026 were Qiu Yong, Zhao Mengyao, He Yujing, and Visal Pang

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The U.S. Treasury Department's OFAC sanctioned four individuals and 41 entities connected to Cambodia-based Prince Group

U.S. federal prosecutors initiated civil forfeiture proceedings to recover approximately 127,271 Bitcoins, valued at about $14 billion to $15 billion, connected to Prince Group

The U.S. Treasury's November 5, 2026 sanctions action targeted corporate vehicles linked to Prince Group across the British Virgin Islands, Hong Kong, Cambodia, Singapore, Mauritius, and Malaysia

The November 5, 2026 designations brought the total number of U.S. sanctioned individuals and entities linked to Prince Group to 226, following earlier tranches in October 2025 and June 2026

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India's Enforcement Directorate searched premises linked to CoinDCX and Delta Exchange India, alleging CoinDCX routed users' trades through offshore platforms including Binance and Bybit

Visal Pang was designated by the U.S. Treasury for controlling 11 Cambodian companies linked to Prince Group executive Chen Bo across construction, logistics, hotel management, and a mobile super app

In October 2025, U.S. federal prosecutors in Brooklyn charged Prince Group chairman Chen Zhi with wire fraud and conspiracy to commit money laundering

FinCEN alleged MEXC Global processed $22 million benefiting Iran's central bank and the Islamic Revolutionary Guard Corps' Qods Force, alongside nearly $200 million connected to the A7A5 stablecoin

As part of Operation Economic Outcast, the U.S. Treasury designated Russia's A7 Network a transnational criminal organization and sanctioned Iranian crypto exchanges Nobitex and BitBank, the latter over alleged transfers to the IRGC

FinCEN designated MEXC Global as a primary money laundering concern in connection with Russian illicit finance under Section 9714(a) of the Combating Russian Money Laundering Act

The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) issued a Section 9714(a) Combating Russian Money Laundering Act order prohibiting U.S. financial institutions from processing transfers with MEXC Global, effective 30 days after Federal Register publication

FinCEN cited severe deficiencies in MEXC Global's anti-money-laundering controls, noting the exchange processed trades with sanctioned Russian platform Garantex and successor Grinex as recently as June 2026

The order targeting MEXC Global forms part of Operation Economic Outcast, a U.S. Treasury campaign targeting financial networks supporting Iranian sanctions evasion activities

FinCEN found MEXC Global processed at least $16 billion in illicit transactions between May 2021 and May 2026, including nearly $1.5 billion tied to Russian sanctions evasion

U.S. Treasury Secretary Scott Bessent stated that financial institutions must choose between supporting the Iranian regime or retaining access to the U.S. financial system

FinCEN alleged that MEXC Global processed approximately $1 billion in direct transfers involving more than 40 Iranian crypto exchanges between May 2021 and May 2026

FinCEN alleged that MEXC Global facilitated approximately $350,000 for sanctioned North Korean money launderer Sim Hyon Sop in 2025

Russia expanded cryptocurrency access under increasing pressure from Western financial sanctions that restricted the country's access to traditional international finance

In mid-2025, the Thailand SEC referred unlicensed crypto exchange platforms including Bybit and OKX to the Ministry of Digital Economy and Society for a June 28 access cutoff

Thailand's Securities and Exchange Commission filed a criminal complaint against BG Limited, the operator of cryptocurrency exchange Bitget, alleging unlicensed digital-asset exchange operations for Thai users from 2022 to 2025