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

- URL: https://talkfuse.com/story/binance-halts-mexc-transfers-as-fincen-cuts-exchange-off-from-us-financial-system/
- Published: 2026-11-10T12:13:27+00:00
- Updated: 2026-11-10T12:22:25+00:00
- Original publisher: Decrypt
- Original article: https://decrypt.co/382926/binance-halts-mexc-transfers-as-fincen-cuts-exchange-off-from-us-financial-system
- Topics: Americas, World

## Key points

- Binance has blocked transfers involving MEXC and 13 related entities.
- FinCEN alleges MEXC processed $16 billion in suspicious transactions.
- US financial institutions face a ban taking effect after 30 days.

## Summary

Binance has stopped processing transfers to and from MEXC after the US Treasury designated the crypto exchange a primary money laundering concern. The move follows allegations linked to Russian illicit finance and signals that Binance is applying restrictions beyond the US financial system’s formal ban.

Binance says transfers involving 13 MEXC-related entities will be declined, while incoming deposits will be held for compliance review; users could face further restrictions or be removed from Binance. FinCEN alleges MEXC processed at least $16 billion in suspicious transactions from May 2021 to May 2026, including nearly $1.5 billion linked to Russian sanctions evasion. The US order takes effect 30 days after publication in the Federal Register, and OKX has also warned users against transferring funds to MEXC.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.