Binance Halts MEXC Transfers as FinCEN Cuts Exchange Off From US Financial System
Summary
Binance has blocked transfers involving MEXC and 13 related entities after the U.S. Treasury’s FinCEN designated the exchange a primary money laundering concern. Binance will reject outgoing transfers to the listed entities and temporarily withhold incoming funds for review; users may face further restrictions or account offboarding. FinCEN alleges MEXC processed at least $16 billion in suspicious transactions from May 2021 to May 2026, including nearly $1.5 billion linked to Russian sanctions evasion, and says its anti-money laundering controls were severely deficient. The U.S. order will take effect 30 days after Federal Register publication. OKX has also cautioned users against transfers to MEXC.
