Treasury cuts off MEXC from the U.S financial system

[OmegaStarScream]

FinCEN’s order, part of Operation Economic Outcast, bars U.S. institutions from any transfers to or from MEXC, which Treasury says facilitated $16 billion in illicit finance tied to Iran, North Korea and Russia.

MEXC has made a statement that funds remain secure and everything is operating normally[1]

It's still unclear to me as to what does this mean in terms of sending funds from MEXC to other non-US based platforms, but it's probably a good idea to avoid doing that.

It might also be a good idea to not use the exchange all together, just in case thigs goes south in the future.

[1] https://x.com/MEXC/status/2118856659619717218

[Wiwo]

P2P on MEXC US will be disabled.

But US citizens can still access MEXC and withdraw funds in other cryptocurrencies like Bitcoin without any problems.

This reminds me of when my country had issues with Binance, and since then, only p2p direct bank transactions have been paused; citizens still use Binance to trade and send other cryptocurrency assets.

[RGBTC]

It might also be a good idea to not use the exchange all together, just in case thigs goes south in the future.

[1] https://x.com/MEXC/status/2118856659619717218

I was reading the replies to that same tweet; it seems MEXC is now responding to the policy by launching an emergency internal investigation. There are already reports of withdrawal requests being blocked and deposits from other platforms (even those not on FinCEN’s blacklist) being frozen. Hahaa...

[hugeblack]

P2P on MEXC US will be disabled.

But US citizens can still access MEXC and withdraw funds in other cryptocurrencies like Bitcoin without any problems.

Any assets withdrawn from MEXC will likely be flagged as "high-risk," effectively forcing users to avoid them (even if they are not U.S. citizens).
Elliptic and Chainalysis rarely take long to act following decisions by institutions such as this.

[OmegaStarScream]

P2P on MEXC US will be disabled.

But US citizens can still access MEXC and withdraw funds in other cryptocurrencies like Bitcoin without any problems.

Any assets withdrawn from MEXC will likely be flagged as "high-risk," effectively forcing users to avoid them (even if they are not U.S. citizens).
Elliptic and Chainalysis rarely take long to act following decisions by institutions such as this.

I have already started seeing reports from multiple users (and different platforms):

https://x.com/zynqorw/status/2118900156099887419
https://x.com/sohan269/status/2118953973185155183

Although I'm not sure how credible they are.

As for Elliptic, the CEO of MEXC made a statement about it couple of hours ago:

-snip-
2. Meaningful Progress with KYT Service Providers
At the same time, we’ve been working closely with blockchain analytics providers.

Elliptic, one of the world’s leading KYT service providers, has confirmed that MEXC Global has returned to the “Exchange” category in its systems. At this stage, the previous special risk classification has been removed, and MEXC is classified according to its business activities.
-snip-

Which I would imagine should mean that exchanges using this provider will no longer be flaggin transactions coming from MEXC, not for now at least?

[salad daging]

I have already started seeing reports from multiple users (and different platforms):

https://x.com/zynqorw/status/2118900156099887419
https://x.com/sohan269/status/2118953973185155183

Although I'm not sure how credible they are.

Some reports of Gate, io, Binance, OKX have blacklisted deposits from the MEXC exchange, including users from Indonesia by depositing USDT from MEXC to the local Tokocrypto exchange in custody must fill out the forum first.
- https://x.com/miss_msmy/status/2119013569929060648
This becomes a red flag for MEXC users who have assets there.

[sunsilk]

Which I would imagine should mean that exchanges using this provider will no longer be flaggin transactions coming from MEXC, not for now at least?

Even if they say that, those with funds there should withdraw all of their assets while they can. We saw these things in the past on other exchanges when they've been in the hot seat and then followed by an unexpected halt of withdrawals.

But if these withdrawals will be completely under review again, mexc is trying to delay the outflows coming on them.

And those who will withdraw shouldn't withdraw it on other exchanges, much better do it on their personal wallets.

[stompix]

P2P on MEXC US will be disabled.

That's now how FinCEN's blacklist work!
Any institution and American company regulated by US laws must stop conducting transactions to and from MEXC.
Tehter and Circle will freeze all their USDT and USDC, in 30 days there will be nothing left there than useless shitcoins.

They are already exiting all of Europe and this will only accelerate with this, eveyone should get their money out of there before it's too late.