Binance Stops Processing Transfers Involving MEXC After FinCEN Order

Binance on Nov. 10 announced that it can no longer process transactions involving MEXC and its affiliated entities. It cites the recent FinCEN designation of MEXC as a Primary Money Laundering Concern.

Details

Withdrawal requests from Binance accounts to MEXC will be declined. Deposits arriving from MEXC will be temporarily withheld for compliance review. Users may face further restrictions under Binance's Terms of Use, including offboarding, and the affected account may be restricted during the review.

The list covers MEXC Global Limited, MEXC Estonia OÜ, GIDA Technology AG, MXC Global Ltd, MEXC Global Foundation Ltd, MEXC Singapore Pte Ltd, MEXC (Comoros) Ltd, the former name MEX Exchange and all MEXC affiliates. Binance asks users not to send funds to these entities directly or indirectly.

We covered the Nov. 6 Treasury order separately: it bars US financial institutions from handling transfers involving MEXC. On Oct. 20 MEXC had already said it would stop serving users in Russia and Belarus.

What it means for the market

For traders, the direct route between the two large venues is now closed: moving funds between Binance and MEXC via on-platform transfers will no longer work, and withdrawals from MEXC to Binance may sit in compliance review. MEXC has not commented on how it will work around the restrictions; we will update this note if it does. For the live bitcoin price, see the daily brief. This is not investment advice.