OKX Warns MEXC Users of Deposit Freezes Ahead of FinCEN Cutoff
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OKX CEO Star Xu said the exchange is treating FinCEN’s special measures with sanctions-like caution after MEXC users reported USDT deposits being held for review ahead of a regulatory cutoff. The warning highlights how exchanges are tightening deposit screening as U.S. anti-money-laundering scrutiny intensifies. USDT remains the key asset in focus, with user reports centering on stablecoin transfers rather than spot trading volumes. The dispute matters because deposit freezes can quickly affect liquidity and user confidence across venues that rely heavily on dollar-pegged tokens. Market participants will watch whether MEXC releases the held USDT deposits and whether other exchanges adopt similarly strict review policies before the FinCEN deadline.
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Named in this story
OKX, FinCEN, MEXC, Star Xu, USDT