FinCEN Orders US Financial Firms to Halt Transfers Involving MEXC
Edited by Steinar Vigdel Kolnes, Editor, Oslo
The US Treasury's FinCEN has moved to block US financial institutions from processing transfers linked to crypto exchange MEXC Global.
The US Treasury Department's Financial Crimes Enforcement Network (FinCEN) on Friday ordered US financial institutions to stop processing transfers involving MEXC Global.
According to the action reported by Cointelegraph, the crypto exchange is accused of involvement in about $16 billion worth of illicit transactions.
The measure effectively cuts MEXC off from transfers handled through covered US financial institutions, adding to regulatory scrutiny of crypto platforms over anti-money laundering controls.
Source: Cointelegraph
