Binance said on Nov. 10 that it had immediately restricted transactions involving MEXC and related businesses after FinCEN designated MEXC a primary money laundering concern. Binance said it would reject transfers to MEXC addresses and temporarily withhold incoming deposits from the listed businesses for compliance review. Indirect dealings are also covered, and affected accounts could face further restrictions or removal.
FinCEN’s order takes effect 30 days after its publication in the Federal Register; the source does not give a publication date. U.S. Treasury officials alleged that MEXC facilitated at least $16 billion in illicit transactions from May 2021 to May 2026. MEXC said it was operating normally and user assets remained secure, and said it had begun an independent review of its anti-money laundering and sanctions controls.
