Anchorage Digital Restricts All Activity Involving MEXC Global
TL;DR: Restriction takes effect immediately, ahead of the effective date of FinCEN's order under Operation Economic Outcast
Anchorage Digital today announced that it has restricted all activity involving MEXC Global, effective immediately, following the U.S. Treasury Department's finding that the exchange is of primary money laundering concern.
On November 6, the Financial Crimes Enforcement Network (FinCEN), as part of Operation Economic Outcast, found MEXC Global to be of primary money laundering concern and ordered U.S. financial institutions to stop processing any transmission of funds to or from the exchange. According to the Treasury, MEXC Global facilitated at least $16 billion in illicit transactions tied to Iranian, North Korean and Russian sanctions evasion and cybercrime, including activity with the IRGC-Qods Force and the Central Bank of Iran.
The order takes effect 30 days after publication. Anchorage Digital is acting now rather than waiting for that date.
Effective immediately:
- Clients should not send funds to, receive funds from, or otherwise transact through Anchorage Digital involving MEXC, MEXC Global, or any MEXC affiliates or related entities.
- Requests to send funds to MEXC addresses will be rejected.
- Any direct or indirect activity involving these entities will be subject to further review, and impacted funds and accounts may be temporarily restricted while that review is ongoing.
"With Anchorage Digital Bank as the first federally chartered crypto bank, compliance is the foundation our platform is built on, not something we add when a deadline arrives. Acting ahead of the order protects our clients, our partners, and the integrity of digital asset markets." —Nathan McCauley, CEO and Co-Founder, Anchorage Digital
Clients with questions should contact their Anchorage Digital representative through official channels.
For more information, please review the Treasury's announcement, or get in touch.
About Anchorage Digital
Anchorage Digital is a global crypto platform that enables institutions to participate in digital assets through trading, staking, custody, governance, settlement, stablecoin issuance, and the industry’s leading security infrastructure. Home to Anchorage Digital Bank N.A., the first federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, X, YouTube, and LinkedIn.
Press Contacts:
Anchorage Digital
press@anchorage.com
This post is intended for informational purposes only. It is not to be construed as and does not constitute an offer to sell or a solicitation of an offer to purchase any securities in Anchor Labs, Inc., or any of its subsidiaries, and should not be relied upon to make any investment decisions. Furthermore, nothing within this announcement is intended to provide tax, legal, or investment advice and its contents should not be construed as a recommendation to buy, sell, or hold any security or digital asset or to engage in any transaction therein.
Anchorage Digital Bank National Association offers fiat custody services through the use of an FDIC-insured, licensed sub-custodian.
