Binance Will Block Transactions Tied to MEXC After FinCEN Designation

Binance will stop processing transactions involving MEXC and related entities after the U.S. Financial Crimes Enforcement Network (FinCEN) designated MEXC a primary money laundering concern.

In a Nov. 10 notice, Binance named MEXC Global Limited, MEXC Estonia OÜ, GIDA Technology AG, MXC Global Ltd, MEXC Global Foundation Ltd, MEXC Singapore Pte Ltd, MEXC (Comoros) Ltd, MEXC, MEXC Global, MEX Global Ltd, MX Global LTD and MEX Exchange, identified as a former name. The restriction also covers other MEXC affiliates and related entities.

Binance told users not to send funds to, receive funds from or otherwise transact with the listed entities, either directly or through intermediaries. Transfer requests from Binance accounts to those entities will be rejected. Funds Binance receives from them will be held temporarily for compliance review.

Accounts affected by the measure may face further restrictions, including termination of service. The restriction reaches beyond the MEXC exchange name to the companies, alternate names and affiliates listed in the notice.