On-chain fund platform Reserve suspends providing liquidity for LCAP and CMC20 on MEXC
TechFlow reports that on November 7, according to an announcement from on-chain fund platform Reserve, Reserve and its market-making partners will pause liquidity provision for LCAP and CMC20 on MEXC, and will soon withdraw the funds allocated for liquidity provision.Reserve stated that this move is a response to an order issued by the U.S. Financial Crimes Enforcement Network (FinCEN) targeting MEXC, noting that liquidity for both tokens on other exchanges and on-chain remains unaffected.TechFlow previously reported that the U.S. Treasury has ordered U.S. financial institutions to cease sending and receiving funds with MEXC Global, with the directive taking effect 30 days after its publication in the Federal Register.
TechFlow reports that on November 7, according to an announcement from on-chain fund platform Reserve, Reserve and its market-making partners will pause liquidity provision for LCAP and CMC20 on MEXC, and will soon withdraw the funds allocated for liquidity provision.
Reserve stated that this move is a response to an order issued by the U.S. Financial Crimes Enforcement Network (FinCEN) targeting MEXC, noting that liquidity for both tokens on other exchanges and on-chain remains unaffected.
TechFlow previously reported that the U.S. Treasury has ordered U.S. financial institutions to cease sending and receiving funds with MEXC Global, with the directive taking effect 30 days after its publication in the Federal Register.
