# MEXC Opens Compliance Review After U.S. Financial System Order

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/52099
Published: 2026-11-09T06:18:13.000Z
Updated: 2026-11-09T06:18:13.000Z
Section: Regulation

> CEO Vugar Usi said deposits and withdrawals remain operational. FinCEN's order bars U.S. financial institutions from processing transfers involving MEXC.

MEXC CEO Vugar Usi said the exchange has opened an independent review of its anti-money laundering and sanctions controls after a U.S. order restricted its access to the financial system.

In an update on Nov. 7, Usi said MEXC is seeking constructive engagement with U.S. authorities. He said deposits and withdrawals were operating normally, although withdrawals had increased; he described the activity as orderly and said customer assets were safe.

The order from the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) bars U.S. financial institutions from processing transfers involving MEXC. FinCEN alleged the exchange processed at least $16 billion connected to sanctions evasion, cybercrime and other illegal activity between May 2021 and May 2026, involving entities tied to Iran, North Korea and Russia.

Usi said MEXC respects each user's decision to withdraw funds and will keep issuing updates as its independent review proceeds. The review covers the exchange's anti-money laundering and sanctions compliance controls.