Binance has introduced immediate restrictions on transactions involving MEXC, MEXC Global, and their affiliates, becoming the first entity to block the exchange following the U.S. Treasury's designation of MEXC as a Primary Money Laundering Concern.

According to the exchange, users can no longer send funds to, receive funds from, or otherwise transact through Binance where the identified entities are involved. Transfers to MEXC addresses will be rejected, while other direct or indirect transactions will be subject to additional compliance reviews. Affected funds and accounts may be temporarily restricted pending investigations, Binance said.

The move follows a November 6, 2026 action by the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury, alleging that MEXC facilitated at least $16 billion in transactions linked to illicit finance — including sanctions evasion and cybercrime — between May 2021 and May 2026. The Primary Money Laundering Concern designation is a U.S. Treasury measure, authorized under the USA PATRIOT Act, that can effectively cut an entity off from the U.S. financial system. For exchanges and other service providers with direct financial or transactional links to the named entity, such a designation turns an ordinary counterparty relationship into a compliance decision.

The U.S. action adds to mounting compliance pressure on cryptocurrency exchanges and highlights how money laundering enforcement can trigger restrictions across the wider digital asset industry. With Binance the first to act, attention will turn to whether other platforms and financial institutions impose similar restrictions on MEXC-linked transactions, and to how MEXC responds to the designation.

Source: BitcoinKE