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Binance TR has halted all crypto asset transfers to MEXC affiliates after FinCEN labeled MEXC a "primary money laundering concern." Withdrawal requests to MEXC will be canceled, while deposits originating from MEXC will undergo compliance review. The move affects Turkish users of Binance's local exchange who route funds through MEXC. It matters because a U.S. Treasury designation can ripple through exchange-to-exchange flows even for non-U.S. platforms. Watch for whether other exchanges follow Binance TR in restricting MEXC transfers and how long the compliance reviews delay user withdrawals.

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Named in this story

MEXC, Binance TR, FinCEN