Add as a preferred source on GoogleFinCEN Orders MEXC Transfer Ban, Citing $16.7B in Suspect Funds
The order covers transfers involving MEXC and named affiliates. It takes effect 30 days after publication in the Federal Register.
The Financial Crimes Enforcement Network (FinCEN) ordered U.S. financial institutions to block transfers involving MEXC Global and named affiliates, citing at least $16.7 billion in suspicious funds over five years.
The agency issued the order Friday, Nov. 6, identifying MEXC as a foreign financial institution of primary money laundering concern. Its review covered May 2021 to May 2026, and the order reaches related entities in Seychelles, Estonia, Switzerland, the United Kingdom and Singapore, along with successor entities. FinCEN tied the funds to suspected sanctions evasion and cybercrime.
The restriction takes effect 30 days after publication in the Federal Register. Once effective, U.S. financial institutions may not initiate or receive transfers involving the covered entities. The order leaves existing Bank Secrecy Act reporting duties and sanctions obligations in place, and violations may bring civil or criminal penalties.
MEXC is a cryptocurrency exchange registered in Seychelles that operates in more than 170 countries.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.