MEXC CEO Responds to US Regulatory Issues: Seeking Constructive Engagement and Initiating Relevant Reviews

November 7 — In response to recent attention sparked by a related U.S. FinCEN order, MEXC CEO Vugar Usi posted an update stating that the platform's deposits and withdrawals have been operating normally; withdrawals have increased somewhat but remain orderly overall, and user assets are safe. Following close communication, compliance analytics provider Elliptic has restored MEXC Global to the standard "exchange" category in its system and removed the previous special risk flag.

At the same time, MEXC attaches great importance to FinCEN's concerns, is seeking constructive engagement, and has initiated an independent review of its anti-money laundering (AML) and sanctions compliance controls. The platform respects users' decisions to withdraw at their own discretion and will continue to provide updates on progress.

Previously reported, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) ordered the severing of MEXC's ties to the U.S. financial system, prohibiting U.S. financial institutions from processing fund transfers involving MEXC. FinCEN alleged that MEXC processed at least $16 billion in funds related to sanctions evasion, cybercrime, and other illicit activities between May 2021 and May 2026, involving entities linked to Iran, North Korea, and Russia.