Binance Freezes Out MEXC Four Weeks Before U.S. Transfer Ban Applies

Binance has begun blocking outbound transfers to MEXC and screening inbound transfers roughly four weeks before FinCEN's ban on transfers involving the exchange takes effect for U.S. financial institutions on Dec. 10. The early action by the largest crypto exchange signals that counterparties may front-run the formal deadline rather than wait for the U.S. Treasury's Financial Crimes Enforcement Network rule to bind them. The move affects MEXC users who route funds through Binance, one of the exchange's key liquidity and settlement channels. What to watch next is whether other major venues follow Binance's lead and cut MEXC off ahead of Dec. 10, and whether MEXC volumes and liquidity shift as a result.