From TokenPost · · 50s
MEXC Opens Compliance Review After U.S. Financial System Order
MEXC starts independent review of anti-money laundering controls after U.S. order restricts its financial access.
In brief
MEXC starts independent review of anti-money laundering controls after U.S. order restricts its financial access. MEXC began an independent review of its anti-money laundering and sanctions compliance controls following a U.S. Treasury order that blocked its financial system access after allegedly processing $16…
MEXC compliance review
MEXC CEO Vugar Usi said the exchange has opened an independent review of its anti-money laundering and sanctions controls after a U.S. order restricted its access to the financial system.
U.S. financial system order
The order from the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) bars U.S. financial institutions from processing transfers involving MEXC.
Alleged sanctions evasion activity
FinCEN alleged the exchange processed at least $16 billion connected to sanctions evasion, cybercrime and other illegal activity between May 2021 and May 2026.
What it means
MEXC began an independent review of its anti-money laundering and sanctions compliance controls following a U.S. Treasury order that blocked its financial system access after allegedly processing $16 billion in sanctions evasion activity.
