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MEXC exchange explained the halt as "scheduled maintenance" a day after the US Treasury order that cuts it off from the American financial system. According to the Cexorer tracker, as of November 7, six out of 18 tracked networks for USDT withdrawal (a stablecoin with an exchange rate pegged to the dollar) were working.
On November 6, FinCEN (the US Treasury's financial crimes unit) banned American banks from making any transfers to or from the MEXC Global crypto exchange. The exchange was named a "primary source of money laundering threat," with claims totaling $16 billion in transactions over five years.
FinCEN (the financial intelligence service under the US Treasury) and the Federal Reserve Board of Governors officially withdrew on November 6 the draft of the so-called Travel Rule - a norm that would have required collecting sender data for any crypto transfer from $250. The draft had been in limbo for more than five years.
