German Regulator Warns Consumers About MEXC
On 17th Oct, the MEXC exchange issued a warning to customers regarding providing financial services on its website without the necessary authorization. This came from Germany’s Federal Financial Supervisory Authority (BaFin).
The custody of digital assets by MEXC must receive BaFin authorization. According to the regulator’s website, “financial services may only be offered in Germany if the company providing these services has the necessary authorization from BaFin to do this.”
Another authority has also issued a notice to MEXC. MEXC Global was operating illegally in Japan, according to a warning letter sent by the country’s financial services agency in April.
(With inputs from Shikha Singh)
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