Binance Halts transactions with MEXC following FinCEN designation
The exchange will reject outgoing transfers and hold incoming deposits tied to MEXC entities after US regulators targeted the firm for money laundering concerns.
Key takeaways
- 1Binance halted transactions involving MEXC and its affiliates on 10 November 2026.
- 2The decision follows a US FinCEN designation naming MEXC a primary money laundering concern on 7 November 2026.
- 3Restricted entities include MEXC Global Limited, MEXC Estonia OÜ, and MEXC Singapore Pte Ltd.
Binance stopped processing all transactions involving cryptocurrency exchange MEXC and its affiliated entities on 10 November 2026 after US regulators designated MEXC a primary money laundering concern. The restriction prohibits users from sending or receiving funds directly or indirectly through Binance when MEXC entities are involved.
Under the updated rules, Binance will automatically reject outgoing transfers directed to MEXC addresses. Incoming deposits originating from MEXC will be temporarily withheld pending individual compliance reviews, while affected Binance accounts could face service restrictions or termination. The action covers MEXC Global Limited, MEXC Estonia OÜ, MEXC Singapore Pte Ltd, and all related corporate affiliates.
The measure stems from a special order issued by the US Financial Crimes Enforcement Network, known as FinCEN, which targeted MEXC Global on 7 November 2026. Following that regulatory decision, several cryptocurrency platforms including Binance, OKX, and Gate began scrutinising deposits coming from MEXC, while service providers such as Bitget Wallet suspended card top-ups using funds linked to the platform.
The direct enforcement shows how regulatory designations by US authorities can quickly separate targeted platforms from broader liquidity channels. Retail users and traders moving funds between exchanges will face heightened compliance checks, as major platforms enforce strict controls to maintain access to international banking and settlement networks.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.