ZachXBT questions FinCEN puts $16 billion in MEXC claim, raises concerns about regulatory oversight.
Onchain researcher ZachXBT claimed that hundreds of millions or even billions of dollars in illegal activity could be detected on other major exchanges as well, raising concerns about the potential for US regulators to crack down on platforms like MEXC and HTX. He questioned why overseas exchanges with little US presence were quick to limit MEXC-related transfers. While acknowledging MEXCs' historically lax AML/KYC practices, he said FinCEN's estimate of $16 billion in illegal transactions appeared excessive and called for supporting data and comparisons with other exchanges.