The US Treasury just cut a major exchange off from the US financial system.
FinCEN named MEXC Global a money laundering concern, citing an alleged $16B in transactions tied to Iran, North Korea and Russia (The Block).
Treasury said the exchange had "severe deficiencies" in its anti-money laundering controls.
My take: enforcement is now aimed at venues, not just hackers. Exchanges with weak compliance carry real counterparty risk, and users tend to move funds fast after orders like this.
Watch for withdrawal spikes and whether other offshore venues get named next.
$BTC sits near $76K while the Fear & Greed Index reads 25.
Would you keep funds on an exchange with weak compliance, yes or no?
#MEXC #FinCEN #Crypto #Compliance
FinCEN named MEXC Global a money laundering concern, citing an alleged $16B in transactions tied to Iran, North Korea and Russia (The Block).
Treasury said the exchange had "severe deficiencies" in its anti-money laundering controls.
My take: enforcement is now aimed at venues, not just hackers. Exchanges with weak compliance carry real counterparty risk, and users tend to move funds fast after orders like this.
Watch for withdrawal spikes and whether other offshore venues get named next.
$BTC sits near $76K while the Fear & Greed Index reads 25.
Would you keep funds on an exchange with weak compliance, yes or no?
#MEXC #FinCEN #Crypto #Compliance