Payments Daily · Wednesday, November 11, 2026Daily
PAY.NEWS
FinCEN Issues MEXC Funds-Transfer Restriction Order
FinCEN ordered MEXC under Section 9714 of the Combating Russian Money Laundering Act, prohibiting U.S. institutions from conducting funds transfers with it. The 30-day period begins when the order is published in the Federal Register. Brazil issued new Open Finance rules; the European Central Bank’s digital euro pilot is planned to begin in the second half of 2027.
Payments & Infrastructure
European Central BankFirst partyECB Executive Board Member on the Digital Euro and Cash: Pilot Planned for the Second Half of 2027
ECB Executive Board Member Piero Cipollone said the digital euro pilot is planned to begin in the second half of 2027, testing technical functions, operational processes, and user experience. The pilot will use a beta version that is not legal tender and involve 36 payment service providers and selected merchants; the date of the digital euro’s first issuance can only be determined after the relevant legislation is passed. The ECB also supports legislation to guarantee the mandatory acceptance of cash, access to it, and the resilience of cash infrastructure.
Regulation & Compliance
FinCEN Issues MEXC a Section 9714 Order, Starting a 30-Day Funds-Transfer Restriction Period
FinCEN issued an order against MEXC under Section 9714 of the Combating Russian Money Laundering Act, prohibiting U.S. institutions from sending funds to or receiving funds from it; the 30-day period is calculated from the date the order is published in the Federal Register. MEXC founder Vugar Usi said the company had submitted a written request to FinCEN through a U.S. law firm and was willing to cooperate; the order does not apply to entities registered outside the United States, and the article says MEXC’s non-U.S. operations are expected to be unaffected.
Brazil’s Central Bank and CMN Issue New Open Finance Rules to Strengthen Security and Facilitate Data Sharing by Business Customers
Brazil’s CMN and Central Bank approved Joint Resolution No. 21, revising the rules governing Open Finance cooperation agreements and facilitating data sharing by business customers. Participating institutions must assess partners’ compliance and data-protection capabilities, and an independent auditor registered with the CVM must provide certification; customers must give explicit authorization within the integrating institution’s environment, with separate authorization required for each partner. Agreements must also provide for the timely suspension of sharing in the event of a security incident, and prohibit subcontracting and sharing the relevant data with third parties.