MEXC Opens Communication With FinCEN After US Regulatory Action

Highlights:

• MEXC CEO Vugar Usi says FinCEN acknowledged the exchange’s written request after it contacted US authorities.
• FinCEN ordered US financial institutions to block MEXC-related transfers, citing at least $16 billion in illicit activity.
• MEXC maintains that deposits, withdrawals and trading remain available, while the US restriction has not been withdrawn.

Cryptocurrency exchange MEXC has contacted the US Financial Crimes Enforcement Network (FinCEN) after the regulator issued an order restricting its access to the American financial system. CEO Vugar Usi said the company has opened communication with FinCEN through leading US law firms and is ready to cooperate. The exchange also maintains that its trading and withdrawal services remain available.

In a November 10 post on X, Usi said FinCEN confirmed receiving the company’s written request on Monday morning, November 9, US time. However, he did not disclose what MEXC had requested or whether the agency had responded to its concerns.

A quick update from us.

We have established communication with FinCEN through the support of top-tier U.S. law firms. FinCEN confirmed receipt of our written request on Monday morning (U.S time). We are ready to fully cooperate.

The platform continues to operate normally.…

— Vugar Usi (@usithetalk) November 10, 2026

MEXC CEO Says Exchange Is Ready to Cooperate With FinCEN

Usi said the exchange had secured legal support in the United States to communicate with FinCEN following the regulatory action. “We have established communication with FinCEN through the support of top-tier U.S. law firms,” he wrote. He added that the company is prepared to cooperate fully with the regulator as it works through the issue.

Usi also addressed concerns about the exchange’s operations, confirming that deposits, withdrawals and trading continue without interruption. “We have a clear plan and a lot of work ahead. We’ll keep you informed as we make progress,” he said.

Separately, MEXC Customer Support shared the CEO’s statement and said the exchange would continue providing updates to users. However, FinCEN has not publicly announced any change to its November 6 order. The agency’s acknowledgment of a written request, as reported by Usi, does not mean the restrictions have been withdrawn.

Your trust matters to us. 💙

Our CEO has shared important clarifications regarding FinCEN's order and what it means for MEXC users.

We remain committed to transparency and will continue sharing updates as the situation develops. https://t.co/qmP6LdrRUN

— MEXC Customer Support (@MEXC_CST) November 10, 2026

Why Did FinCEN Restrict MEXC?

The latest update follows FinCEN’s November 6 announcement, which ordered US financial institutions to stop processing funds transfers involving MEXC Global. According to the regulator, the exchange facilitated at least $16 billion in transactions linked to sanctions evasion, cybercrime and other illicit activities between May 2021 and May 2026.

FinCEN said the activity involved individuals and organizations connected to Russia, Iran and North Korea. The agency also identified nearly $1.5 billion in transactions linked to Russian sanctions evasion. It alleged that MEXC continued processing transfers involving sanctioned Russian cryptocurrency services, including Garantex and its successor, Grinex.

FinCEN issued the order under Section 9714 of the Combating Russian Money Laundering Act. It prevents US financial institutions from transferring funds to or from MEXC Global once the measure takes effect. The order is scheduled for publication in the Federal Register on November 10 and is set to become effective 30 days after publication.

MEXC Previously Said Customer Funds Were Safe

MEXC had already responded to the regulatory action before Usi’s latest statement. In a November 7 official announcement, the exchange said it was reviewing FinCEN’s order with its legal and compliance teams. The company maintained that customer assets were secure and said it had started an independent review of its anti-money laundering and sanctions controls.

MEXC also vowed to communicate with and work with US regulators and authorities to resolve the issues that were raised. Nevertheless, the final results are not yet known. MEXC has not provided any details regarding its request, and FinCEN has not said it will review or revise the order.