Binance Shuts Down Transfers Involving MEXC and Its Affiliates

Just a few days after the U.S. Treasury took action to cut global crypto exchange MEXC off from the U.S. financial system, Binance has also announced strict regulatory actions against the exchange. On Tuesday, November 10, Binance, the world’s largest cryptocurrency exchange by volume, announced its immediate decision to halt all transfers involving MEXC and all its affiliated companies. Binance released an official announcement earlier today, warning users that it has stopped all trading services related to MEXC following new concerns about its legitimacy. While the restrictions were announced to take effect immediately, Binance explained that its move follows the recent decision by the U.S. Financial Crimes Enforcement Network (FinCEN) to designate MEXC as a Primary Money Laundering Concern.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to U.Today.