Back to news
RegulationHigh impact — Significance is rated automatically and is not a price signal.
FinCEN Moves to Cut MEXC Global Off From US Banking System Over Alleged Illicit Flows
(1 hour ago) · 1 source · Summarized by CryptoBipto
The US Financial Crimes Enforcement Network (FinCEN) has taken steps to sever MEXC Global's access to US banks, citing alleged $16 billion in illicit financial flows through the cryptocurrency exchange. The action would effectively block MEXC from conducting transactions through the US banking system.
WHY IT MATTERS
FinCEN is a US government agency that watches for illegal money activity, similar to a financial police force.
Read the full analysis with a CryptoBipto membership
Members read why every story matters and the full analysis behind it.
SOURCES
- newsbtc.com
RELATED
FinCENAnti-Money LaunderingExchange RegulationUS TreasuryBanking Access
Learn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.