MEXC CEO says exchange has opened communication channel with FinCEN

MEXC CEO Vugar Usi said the crypto exchange has established a communication channel with FinCEN with support from major U.S. law firms and is prepared to fully cooperate with the agency’s investigation. Usi added that FinCEN received MEXC’s written request on Nov. 9, according to the exchange. CoinNess reported on Nov. 7 that FinCEN had cut off MEXC from the U.S. financial system over alleged sanctions evasion involving Iran, North Korea and Russia. In that action, FinCEN said MEXC facilitated at least $16 billion in transactions tied to sanctions evasion, cybercrime and other illicit activity from May 2021 to May 2026, including about $1.5 billion linked to Russian sanctions evasion and $1 billion involving an Iranian crypto exchange.