MEXC Cut Off by US Treasury: What Users in Germany and Europe Should Do Now

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.FinCEN has severed MEXC from the US dollar system over 16 billion dollars in alleged illicit flows. Are EU accounts affected, can you withdraw, and what to do next.Add as a preferred source on GoogleFollow on Google NewsOn Thursday evening the US Treasury's Financial Crimes Enforcement Network, FinCEN, declared MEXC Global a "primary money laundering concern" and ordered every US financial institution to stop processing funds transfers involving the exchange. If you hold funds on MEXC from Germany, Austria, Switzerland or anywhere else in Europe, here is what the order does and does not mean for you, and a sensible way to act on it. What did FinCEN actually do to MEXC? The order, issued under Section 9714 of the Combating Russian Money Laundering Act, finds that MEXC processed at least 16 billion dollars connected to illicit activity between May 2021 and May 2026. That includes close to 1.5 billion dollars tied to Russian sanctions evasion, 232 million dollars in direct transact...