MEXC CEO Says FinCEN Confirmed Receipt of Written Request

MEXC CEO Vugar Usi said the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) confirmed receipt of the exchange’s written request Monday morning ET, after MEXC opened contact through a U.S. law firm.

Usi said MEXC was prepared to cooperate fully with FinCEN. He also said deposits, withdrawals and trading were operating normally on the platform at the time of the update, and the exchange would continue posting progress reports.

The outreach follows a U.S. order targeting MEXC’s access to the financial system. It is the latest step in MEXC’s effort to engage with the agency after the order.

In an earlier update, Usi said compliance analytics firm Elliptic had returned MEXC Global to its standard exchange category in its system and removed a special risk marker. MEXC also said the exchange was seeking constructive communication with FinCEN and had begun an independent review of its anti-money laundering and sanctions compliance controls.