Let me explain again, since it seems a lot of people still don’t understand what’s going on with MEXC.
The reason MEXC is currently being sanctioned by FinCEN is that it allegedly acted as a “primary money laundering concern” in connection with illicit financial activity involving sanctioned countries such as Russia.
The sanctions against MEXC itself prohibit all “covered U.S. financial institutions” from making any money transfers to or from MEXC Global.
In other words, once the sanctions against MEXC take effect, no U.S. financial institution will be allowed to conduct transactions with it. If you do, you’ll effectively be helping it evade the sanctions.
The sanctions against MEXC will take effect 30 days after they are officially published in the Federal Register. They don’t appear to have been published yet, so they won’t take effect for at least another month.
So although the sanctions aren’t in effect yet, all exchanges and crypto-related entities are cutting ties with MEXC immediately to avoid becoming the next target. That’s a normal form of self-protection.
If you have money on MEXC, don’t transfer it directly to a U-card on another exchange!!!
The reason MEXC is currently being sanctioned by FinCEN is that it allegedly acted as a “primary money laundering concern” in connection with illicit financial activity involving sanctioned countries such as Russia.
The sanctions against MEXC itself prohibit all “covered U.S. financial institutions” from making any money transfers to or from MEXC Global.
In other words, once the sanctions against MEXC take effect, no U.S. financial institution will be allowed to conduct transactions with it. If you do, you’ll effectively be helping it evade the sanctions.
The sanctions against MEXC will take effect 30 days after they are officially published in the Federal Register. They don’t appear to have been published yet, so they won’t take effect for at least another month.
So although the sanctions aren’t in effect yet, all exchanges and crypto-related entities are cutting ties with MEXC immediately to avoid becoming the next target. That’s a normal form of self-protection.
If you have money on MEXC, don’t transfer it directly to a U-card on another exchange!!!