Users Report Deposit Restrictions at OKX, Binance and Other…
By Karthik Subramanian
AI summary of the source article
Major cryptocurrency exchanges including OKX, Binance, and Gate have increased compliance scrutiny and delayed deposits originating from MEXC Global. This follows a U.S. FinCEN special measure order targeting approximately $16.7 billion in alleged illicit transactions processed by MEXC.
Why it matters
The situation illustrates how regulatory action against one trading platform can influence risk-management decisions across interconnected cryptocurrency markets before formal restrictions take effect.
Key facts
- FinCEN issued a special measure order to cut MEXC off from the U.S. financial system, alleging $16.7 billion in illicit transactions between May 2021 and May 2026.
- Exchanges including OKX, Binance, and Gate have introduced additional reviews, deposit delays, and transfer freezes on funds originating from MEXC.
- OKX strengthened compliance controls ahead of the formal regulatory deadline and warned users against transferring funds directly from MEXC.
Source excerpt · FinanceFeeds
Cryptocurrency transfers originating from MEXC face increased compliance scrutiny as exchanges respond to a U.S. Treasury order targeting $16 billion in alleged illicit financial activity. Cryptocurrency users have reported deposit delays, frozen transfers and additional compliance reviews at major exchanges, including OKX, Binance and Gate, following enforcement action by the U.S. Financial Crime…