Hong Kong Securities and Futures Commission: MEXC offering multiple crypto trading products without a license in Hong Kong, listed on the alert 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 promoting its services to investors in Hong Kong.

MEXC Provides Multiple Services in Hong Kong Without a License

SFC announced that according to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, operating virtual asset services in Hong Kong without a license, such as operating a virtual asset exchange or actively promoting services to Hong Kong investors, is considered a crime.

Prior to this, SFC had issued a warning about a fraudulent platform impersonating MEXC:

Hong Kong SFC and Police Warn of Virtual Asset Scam Using the Name of Exchange MEXC

SFC: Listed on the Alert List

SFC emphasized that no entity under the MEXC Group has been licensed or registered by the Securities and Futures Commission to conduct any regulated activities in Hong Kong. Therefore, the Securities and Futures Commission included MEXC and its cryptocurrency-related products on the alert list on March 15.

The Securities and Futures Commission will take enforcement action against unlicensed activities when appropriate.

MEXC Holds Promotion for Hong Kong Users

SFC specifically mentioned several official platforms of MEXC:

• Website: https://www.mexc.com/

• Twitter: https://twitter.com/MEXCZH,

• Facebook: https://www.facebook.com/mexcofficial

• Telegram Group:
  https://t.me//t.me/MEXC_ZH

  https://t.me/MEXCEnglish

  https://t.me/MEXC_ENofficial

The MEXC website is operated by Seychelles-based company MEXC Fintech Limited and has recently launched promotions targeting Hong Kong investors. New users from Hong Kong who complete KYC after registering for seven days will receive 20 USDT. Additionally, Hong Kong users who refer friends to trade on MEXC and reach a certain trading volume will receive 10 MEXC platform tokens, MX.

MEXC has not publicly responded to this news.