Add as a preferred source on GoogleFinCEN Orders U.S. Financial Firms to Block MEXC Transactions
The restriction takes effect 30 days after publication in the Federal Register. MEXC says it has started an independent review of its compliance controls.
The Financial Crimes Enforcement Network has ordered U.S. financial institutions to block transactions with MEXC, alleging the crypto exchange handled $16.7 billion tied to illicit activity over five years.
FinCEN's Nov. 6 order links activity from May 2021 to May 2026 to illicit Russian finance, sanctions evasion and cybercrime, including transactions involving Iran and North Korea. It also identifies dealings with sanctioned Russian exchanges Garantex and Grinex.
The restriction takes effect 30 days after the order's publication in the Federal Register and has no set expiration date. The new prohibition has not yet taken effect.
MEXC said its legal and compliance teams are reviewing the order. The exchange said its platform remains operational and user assets are safe, and that it has begun an independent review of its anti-money-laundering and sanctions controls.
MEXC is registered in Seychelles and serves users in more than 170 countries. The order targets the exchange's dealings through U.S. financial institutions, while MEXC says its platform continues operating.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.