According to CoinMeta, on November 10, 2026, Binance announced that it would immediately suspend all transfers with the global cryptocurrency exchange MEXC and all its affiliated companies. This decision was made after the U.S. Treasury Department took action to cut off MEXC's connection to the U.S. financial system. In its announcement, Binance warned users that due to concerns regarding the legitimacy of MEXC, all trading services related to MEXC had been stopped. MEXC has been identified by the U.S. Financial Crimes Enforcement Network (FBI) as a major money laundering concern, and Binance has prohibited users from directly or indirectly sending or receiving funds to MEXC and its related entities. Although MEXC ranks among the top 20 global cryptocurrency exchanges, on November 6, FinCEN issued an order to cut off its connection to the U.S. financial system due to its involvement in at least $16 billion in illegal transactions. Binance is the first cryptocurrency exchange to take action in accordance with FinCEN regulations, and other exchanges may also adopt similar measures.