🚫 Binance cuts off all transfers with MEXC after US Treasury money laundering designation
Binance has stopped processing transactions involving MEXC, MEXC Global and their affiliates, days after FinCEN named the exchange a "primary money laundering concern" tied to Russian illicit finance. Withdrawals from Binance to MEXC will be declined, while deposits from the 13 listed MEXC entities will be held for compliance review, and affected accounts could be restricted or offboarded.
FinCEN alleges MEXC processed at least $16 billion in suspicious transactions between May 2021 and May 2026, including nearly $1.5 billion linked to Russian sanctions evasion. The order bars US financial institutions from handling transfers involving MEXC and takes effect 30 days after publication in the Federal Register. OKX has also reportedly warned users against sending funds to MEXC.
⭐ With the largest exchange cutting ties, MEXC users face tighter liquidity routes, and the case signals Washington is willing to use its toughest AML tools against offshore crypto venues.
#Binance #MEXC #FinCEN #CryptoRegulation
Binance has stopped processing transactions involving MEXC, MEXC Global and their affiliates, days after FinCEN named the exchange a "primary money laundering concern" tied to Russian illicit finance. Withdrawals from Binance to MEXC will be declined, while deposits from the 13 listed MEXC entities will be held for compliance review, and affected accounts could be restricted or offboarded.
FinCEN alleges MEXC processed at least $16 billion in suspicious transactions between May 2021 and May 2026, including nearly $1.5 billion linked to Russian sanctions evasion. The order bars US financial institutions from handling transfers involving MEXC and takes effect 30 days after publication in the Federal Register. OKX has also reportedly warned users against sending funds to MEXC.
⭐ With the largest exchange cutting ties, MEXC users face tighter liquidity routes, and the case signals Washington is willing to use its toughest AML tools against offshore crypto venues.
#Binance #MEXC #FinCEN #CryptoRegulation
