Binance halts transactions with MEXC after FinCEN money laundering designation
Binance announced it will no longer process crypto transfers involving MEXC and its affiliates after the U.S. Financial Crimes Enforcement Network designated the exchange as a primary money laundering concern.
Binance has halted all direct and indirect crypto transactions involving MEXC and its affiliated platforms, according to a company announcement on Nov. 10. The decision follows enforcement action by the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN), which designated MEXC as a primary money laundering concern citing alleged illicit financial activity.[1][2][4]
Under the new policy, Binance will decline outgoing withdrawals directed to MEXC, while incoming deposits sent from the exchange will be withheld temporarily pending compliance reviews. Binance noted that affected user accounts may face further operational restrictions or outright termination of services. Decrypt reported that FinCEN tied MEXC to $16 billion in suspicious flows as part of actions cutting the exchange off from the U.S. financial system.[1][3][4][5]
Binance published an extensive list of restricted corporate entities associated with the platform. The list includes MEXC Global Limited, MEXC Estonia OÜ, GIDA Technology AG, MXC Global Ltd, MEXC Global Foundation Ltd, MEXC Singapore Pte Ltd, and MEXC (Comoros) Ltd, alongside other affiliates and former brand names.[1][2]
Key facts
- Binance announced on Nov. 10 that it will no longer process transactions involving MEXC and its affiliated entities.
- The move follows FinCEN designating MEXC as a primary money laundering concern over alleged illicit financial activity.
- Decrypt reported that FinCEN tied MEXC to $16 billion in suspicious financial flows.
- Outgoing transfers to MEXC will be rejected, while incoming deposits will be withheld for compliance review.
- Binance users engaging in transactions involving MEXC entities may face account restrictions or service termination.
- Restricted entities listed by Binance include MEXC Global Limited, MEXC Estonia OÜ, GIDA Technology AG, MEXC Singapore Pte Ltd, and MEXC (Comoros) Ltd.
Sources · 5 sources
- WB
Wu Blockchain@WuBlockchainPost on X ·
Binance Halts Transactions Involving MEXC and Its Affiliates Following FinCEN Designation Binance announced on November 10 that it will no longer process transactions involving MEXC and its affiliated entities following FinCEN's recent designation of MEXC as a primary money laundering concern. Users are prohibited from sending or receiving funds directly or indirectly through Binance involving these entities. Outgoing transfers will be rejected, while incoming deposits will be temporarily withheld pending compliance review. Affected accounts may face additional restrictions or termination of services. The listed entities include MEXC Global Limited, MEXC Estonia OÜ, MEXC Singapore Pte Ltd, and other MEXC affiliates.
Open source - SO
SolanaFloor@SolanaFloorPost on X ·
NEW: @Binance has halted transactions involving @MEXC and its affiliated entities following the U.S. Treasury's action against the exchange. FinCEN recently designated MEXC as a primary money laundering concern, citing alleged illicit financial activity. https://t.co/kB0fek0sK4
Open source - DE
DecryptArticle ·
Binance Halts MEXC Transfers as FinCEN Cuts Exchange Off From US Financial System The exchange will reject withdrawals to MEXC and hold deposits from it for review, after FinCEN tied it to $16 billion in suspicious flows.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Binance said it would block transfers involving MEXC and its affiliates after FinCEN designated the exchange a primary money laundering concern. Incoming deposits from MEXC will be temporarily held for compliance review, while affected Binance users could face account restrictions or termination.
Open source - DN
DEGEN NEWS@DegenerateNewsPost on X ·
NEW: @binance TO NO LONGER PROCESS TRANSACTIONS INVOLVING @MEXC AFTER FINCEN DESIGNATED IT A "PRIMARY MONEY LAUNDERING CONCERN" WITHDRAWALS TO MEXC WILL BE DECLINED, AND DEPOSITS FROM IT WILL BE WITHHELD FOR COMPLIANCE REVIEW SOURCE: https://t.co/5dskJg9hwm https://t.co/0KhJdalkFB
Open source