FinCEN issues a Section 9714 order against MEXC, starting a 30-day period for restrictions on fund transfers

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FinCEN issued an order against MEXC under Section 9714 of the Combating Russian Money Laundering Act, prohibiting U.S. financial institutions from sending or receiving funds to or from it; the 30-day period begins on 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 institutions registered outside the United States, and the article says MEXC's non-U.S. operations are expected to be unaffected.