Hong Kong Securities and Futures Commission: MEXC, Unlicensed, Offering Multiple Cryptocurrency Products in Hong Kong, Listed on Warning List
The Securities and Futures Commission (SFC) of Hong Kong warned the public on March 15th that MEXC is an unlicensed virtual asset trading platform and actively promotes its services to Hong Kong investors.
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MEXC provides various services in Hong Kong without a license
SFC: Listed on the suspicious alert list
MEXC holds referral activities for Hong Kong users
MEXC provides various services in Hong Kong without a license
SFC
According to the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, operating virtual asset services (i.e. operating a virtual asset exchange) in Hong Kong without a license, or actively promoting services to Hong Kong investors, is considered a criminal offense.
Previously, SFC also warned about a fraudulent platform impersonating MEXC:
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Hong Kong SFC and police jointly warn of virtual asset fraud using the name of exchange MEXC
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SFC: Listed on the suspicious alert list
SFC emphasized that no entities under the MEXC Group have been licensed or registered by the SFC to carry out any regulated activities in Hong Kong. Therefore, on March 15th, the SFC included MEXC and its related crypto products on the alert list.
In appropriate cases, the SFC will take enforcement action against unlicensed activities.
MEXC holds referral activities for Hong Kong users
SFC specifically mentioned several official platforms of MEXC:
Official website:
https://www.mexc.com/
Twitter:
https://twitter.com/MEXCZH
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Facebook page:
https://www.facebook.com/mexcofficial
Telegram groups:
https://t.me//t.me/MEXC_ZH
https://t.me/MEXCEnglish
https://t.me/MEXC_ENofficial
MEXC’s official website is operated by MEXC Fintech Limited, a Seychelles company. Recently, they have launched promotional activities targeting Hong Kong investors. New users from Hong Kong who complete KYC within seven days of registration will receive 20 USDT. If Hong Kong users refer friends to trade on MEXC and reach a certain trading volume, they will receive 10 MX, the platform’s native token.
MEXC has not publicly responded to this news.
MEXC
Further reading
Hong Kong SFC and police jointly warn of virtual asset fraud using the name of exchange MEXC
India delists nine exchanges including Binance and Kraken, official websites, Google, and Apple stores completely blocked
