MEXC says Elliptic lifts special-risk classification on its platform

Cointime update: MEXC CEO Vugar Usi said KYT provider Elliptic has restored MEXC Global to its “exchange” category, removing a prior special-risk classification, following a FinCEN order cutting the exchange off from the US financial system over alleged sanctions evasion involving at least $16 billion in transactions. Usi said deposits and withdrawals continue to run smoothly, withdrawals have risen but remain orderly, and MEXC has begun an independent review of its AML and sanctions controls while seeking constructive engagement with FinCEN.