DECRYPT · 2026-11-10 12:13 UTC

Binance Halts MEXC Transfers as FinCEN Cuts Exchange Off From US Financial System

Binance stopped processing transactions involving MEXC and 13 related entities, declining outgoing transfers to MEXC and temporarily withholding incoming deposits for compliance review. FinCEN designated MEXC a primary money laundering concern, alleging at least $16 billion in suspicious transactions from May 2021 to May 2026, including about $1.5 billion in exposure to Russian sanctions evasion. The U.S. order bars American financial institutions from processing fund transfers involving MEXC and takes effect 30 days after Federal Register publication; OKX has also warned users against…

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