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MEXC hit with FinCEN US financial cutoff as withdrawals continue

MEXC hit with FinCEN US financial cutoff as withdrawals continue
AI summary

FinCEN has ordered a US financial cutoff against MEXC, barring US financial institutions from transferring funds to or from the exchange. The ban takes effect 30 days after publication in the Federal Register. MEXC says withdrawals are still processing and that it has begun an independent review of its AML and sanctions controls. A US banking cutoff raises counterparty and liquidity risk for traders holding funds on the platform.

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