BINANCE BLOCKS TRANSFERS LINKED TO MEXC — USERS FACE ACCOUNT RESTRICTIONSBinance has officially stopped processing cryptocurrency transactions involving MEXC and its affiliated entities, following a major regulatory action by the US Treasury.
According to Binance’s announcement published on November 10:
Transfers from Binance to MEXC will be rejected.Deposits originating from MEXC will be temporarily withheld for compliance review.Affected Binance accounts may face additional restrictions, including possible termination of services.
WHY IS THIS HAPPENING?On November 6, the US Financial Crimes Enforcement Network (FinCEN) designated MEXC a primary money laundering concern.
US authorities allege that at least $16 BILLION in transactions connected to illicit financial activity passed through MEXC between May 2021 and May 2026.
The allegations include sanctions evasion involving Russia, Iran and North Korea, as well as cybercrime-related transactions.
The US order will take effect 30 days after publication in the Federal Register.
MEXC says it is reviewing the allegations with its legal and compliance teams and that its platform continues operating normally.
WHAT THIS MEANS FOR THE CRYPTO INDUSTRYThe decision highlights how regulatory actions can quickly affect transfers between major exchanges.
For traders, payment providers and OTC operators, it reinforces the importance of transaction monitoring, source-of-funds checks and counterparty screening.
MONOPOLY TAKEAWAY
Exchange-to-exchange transfers are becoming increasingly subject to compliance restrictions. Even legitimate users may face delayed deposits and additional account reviews when transacting with flagged platforms.
Official Binance announcement:https://www.binance.com/en/support/announcement/detail/9ef6e347da924cdc90f53577ab483b1f
FinCEN announcement:https://www.fincen.gov/news/news-releases/operation-economic-outcast-severs-mexc-globals-access-us-financial-system
MONOPOLY — Crypto & iGaming Intelligence
