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ZachXBT says FinCEN's $16bn MEXC illicit-funds figure looks exaggerated

NewsFeeds update

ZachXBT said FinCEN's allegation that MEXC handled $16bn in illicit funds appears exaggerated and called for the data and peer comparisons to be published. He said MEXC's AML and KYC policies have long been lax but that he could flag large illicit sums at any major exchange.

RegulationPANewsAIBearish

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The story so far: FinCEN action against MEXC

FinCEN barred MEXC from the US financial system over alleged sanctions evasion linked to Iran, North Korea and Russia. MEXC says operations are normal and Elliptic has restored its exchange category as it begins an independent review. ZachXBT now says FinCEN's $16bn illicit-funds figure looks exaggerated and calls…

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  1. US Treasury blocks MEXC from US financial system over alleged sanctions evasion

  2. Reserve says it will halt LCAP and CMC20 liquidity on MEXC after FinCEN order

  3. MEXC says operations normal and plans talks with regulators after FinCEN order

  4. MEXC says Elliptic restores exchange category after FinCEN order

  5. FinCEN special measure on MEXC prompts reports of restricted deposits at OKX and others

  6. OKX's Star says avoid direct MEXC transfers as exchange tightens risk controls

  7. MEXC CEO says exchange has opened talks with US FinCEN

  8. Binance says it cannot process transactions involving MEXC and affiliates

  9. ZachXBT says FinCEN's $16bn MEXC illicit-funds figure looks exaggerated

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Every Regulation update on NewsFeeds

Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.