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MEXC CEO says exchange contacted FinCEN and pledged full cooperation

MEXC CEO Vugar Usi stated that the exchange has established communication with FinCEN, which confirmed receipt of a written request, while platform operations remain normal following recent U.S. enforcement actions.

Portrait of MEXC CEO Vugar Usi against a white background.
Image: @TheBlockCo

MEXC CEO Vugar Usi stated that the cryptocurrency exchange has opened communication with the U.S. Treasury's Financial Crimes Enforcement Network and is prepared to fully cooperate with the agency. According to Usi, the exchange established contact through top-tier U.S. law firms, and FinCEN confirmed receipt of MEXC's written request on Monday morning.[1][2][3][4]

Usi emphasized that the exchange continues to operate normally, with trading, deposits, and withdrawals remaining fully functional. The outreach follows a FinCEN order issued last week directing U.S. financial institutions to stop processing transfers involving MEXC Global. That order alleged the platform facilitated at least $16 billion in illicit transactions connected to Iran, North Korea, and Russia.[1][2][3][4]

Key facts

  • MEXC CEO Vugar Usi announced the exchange has established communication with the U.S. Treasury's FinCEN through U.S. law firms.
  • FinCEN confirmed receipt of MEXC's written request on Monday morning.
  • MEXC stated it is prepared to fully cooperate with FinCEN.
  • Usi said MEXC deposits, withdrawals, and trading remain fully operational and continue as normal.
  • FinCEN previously ordered U.S. financial institutions to stop processing transfers involving MEXC Global.
  • FinCEN alleged MEXC facilitated at least $16 billion in illicit transactions linked to Iran, North Korea, and Russia.

Sources 路 4 sources

  1. TB

    The Block@TheBlockCoPost on X 路

    THE BLOCK: MEXC CEO Vugar Usi said the company has established communication with the US Treasury's FinCEN and that the exchange is ready to cooperate with the investigation. Last week, FinCEN ordered that US financial institutions stop processing transfers involving crypto exchange MEXC Global, alleging the platform facilitated at least $16 billion in illicit transactions linked to Iran, North Korea, and Russia.

    Open source
  2. CO

    Cointelegraph@CointelegraphPost on X 路

    馃嚭馃嚫 JUST IN: MEXC CEO Vugar Usi says the exchange has made contact with FinCEN, which confirmed receipt of its written request. He said the company is ready to fully cooperate and the platform continues to operate as normal. https://t.co/frA9iz9ouA

    Open source
  3. CB

    Crypto Banter@crypto_banterPost on X 路

    馃毃MEXC CEO SAYS EXCHANGE HAS OPENED TALKS WITH FINCEN! @usithetalk said the exchange has established communication with FinCEN through top-tier U.S. law firms, and that FinCEN confirmed receipt of their written request on Monday morning. He stated MEXC is ready to fully cooperate while the platform continues to operate normally, with deposits, withdrawals, and trading fully functioning after the recent U.S. order cutting the exchange off from the American financial system over alleged illicit flows.

    Open source
  4. CN

    crypto.news@cryptodotnewsPost on X 路

    UPDATE: MEXC says it has contacted FinCEN and is ready to cooperate CEO Vugar Usi said FinCEN confirmed receipt of the exchange's written request, adding that the platform continues to operate normally. https://t.co/xPN7eFuoAy

    Open source