Contents and sources 1 sections
Key points
- The classification and operational updates are statements by MEXC’s CEO.
Withdrawal and classification update
MEXC CEO Vugar Usi said at 14:52 UTC on November 7 that withdrawal volumes had increased but processing remained orderly, with deposits and withdrawals continuing smoothly. He provided no withdrawal volume figures.[1]
He also said blockchain analytics provider Elliptic had returned MEXC Global to the “Exchange” category and removed its previous special risk classification. This is Usi’s account of the provider’s action; this report has not obtained independent confirmation from Elliptic and does not treat the classification change as a lifting of regulatory restrictions.[1]
Usi reiterated that MEXC intended to engage with the U.S. Financial Crimes Enforcement Network (FinCEN) and had begun an independent review of its anti-money-laundering and sanctions controls. Both points appeared in the company’s 00:02 UTC statement that day and were not first announced in this update.[1][2]
Sources & further reading
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