Golden Pig’s take: Coins transferred from MEXC to Binance may now be temporarily held for review—if you still have funds on MEXC, don’t rush to move them to Binance.
Binance’s 11/10 announcement: Because the U.S. FinCEN has designated MEXC a “primary money laundering concern,” Binance will no longer process any transfers involving MEXC or its affiliated entities, effective immediately. Transfers from Binance to MEXC will be rejected; funds deposited from MEXC to Binance will be temporarily held for compliance review, and accounts may also be restricted.
The figures from the U.S. Treasury: From May 2021 to May 2026, MEXC Global handled at least $16 billion in suspicious funds. The U.S. restriction doesn’t take effect until December 10, but Binance cut off transfers a month early.
My take: This isn’t news that MEXC is absconding with users’ money—the “transfer route” has been blocked. Those most likely to get caught out are people who regularly move funds between the two exchanges for arbitrage, or withdraw from MEXC back to Binance. Having your funds stuck in review is far worse than losing a little to fees.
What I’m doing: Check the route carefully before transferring money between exchanges. Don’t use MEXC as a go-between, and spread your funds around—but don’t let any transfer go through a platform that’s been named.
If an exchange you regularly use were suddenly cut off, how would you rearrange your funds?
#MEXC #币安 #合规 #FinCEN $BNB
Sources: Binance announcement, U.S. Treasury and FinCEN. DYOR; this is not investment advice.
Binance’s 11/10 announcement: Because the U.S. FinCEN has designated MEXC a “primary money laundering concern,” Binance will no longer process any transfers involving MEXC or its affiliated entities, effective immediately. Transfers from Binance to MEXC will be rejected; funds deposited from MEXC to Binance will be temporarily held for compliance review, and accounts may also be restricted.
The figures from the U.S. Treasury: From May 2021 to May 2026, MEXC Global handled at least $16 billion in suspicious funds. The U.S. restriction doesn’t take effect until December 10, but Binance cut off transfers a month early.
My take: This isn’t news that MEXC is absconding with users’ money—the “transfer route” has been blocked. Those most likely to get caught out are people who regularly move funds between the two exchanges for arbitrage, or withdraw from MEXC back to Binance. Having your funds stuck in review is far worse than losing a little to fees.
What I’m doing: Check the route carefully before transferring money between exchanges. Don’t use MEXC as a go-between, and spread your funds around—but don’t let any transfer go through a platform that’s been named.
If an exchange you regularly use were suddenly cut off, how would you rearrange your funds?
#MEXC #币安 #合规 #FinCEN $BNB
Sources: Binance announcement, U.S. Treasury and FinCEN. DYOR; this is not investment advice.
