Binance announced that it would reject outgoing transfers directly or indirectly linked to MEXC and its affiliates, while holding incoming funds until its review is complete.
The announcement, dated November 10 and reported by Wu Blockchain, came after the U.S. Financial Crimes Enforcement Network (FinCEN) identified MEXC as a primary money laundering concern.
Binance will handle incoming and outgoing transfers differently
Transfers from Binance to MEXC-linked entities will be rejected. Deposits to Binance linked to these entities will be temporarily held until the compliance review is complete.
The restriction covers MEXC Global Limited, MEXC Estonia OÜ, MEXC Singapore Pte Ltd, and other MEXC affiliates. Binance also stated that it may impose additional restrictions on affected accounts or discontinue the services it provides to them.
Not investment advice.