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MEXC faces $16B FinCEN action as U.S. sanctions eight Canadian firms

By Olivia Stephanie

FinCEN targets MEXC over $16 billion in alleged illicit flows as U.S. officials sanction eight Canadian money services businesses linked to Iran.

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Sanctions

Penalties such as trade bans, asset freezes or travel bans imposed by one or more countries on another country, group or person.

Sanctions are used to pressure governments without military action, with costs for both sides.

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