The Securities and Futures Commission (SFC) of Hong Kong warned the public on March 15 that MEXC is an unlicensed virtual asset trading platform and actively promotes its services to Hong Kong investors.
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MEXC provides multiple services in Hong Kong
SFC: Listed on the suspicious alert list
MEXC holds referral activities for Hong Kong users
MEXC provides multiple services in Hong Kong
SFC
According to the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, operating virtual asset services (i.e. operating virtual asset exchanges) in Hong Kong without a license or actively promoting services to Hong Kong investors is a criminal offense.
Previously, SFC also warned about a fraudulent platform impersonating MEXC:
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Hong Kong SFC and the police jointly warn of virtual asset fraud using the name of the exchange MEXC
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SFC: Listed on the suspicious alert list
SFC emphasized that no entities under the MEXC Group have obtained a license or registration from the SFC to conduct regulated activities in Hong Kong. Therefore, the SFC has listed MEXC and its related crypto-products on the alert list as of March 15.
In appropriate circumstances, the SFC will take enforcement actions 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:
https://www.facebook.com/mexcofficial
Telegram groups:
https://t.me//t.me/MEXC_ZH
https://t.me/MEXCEnglish
https://t.me/MEXC_ENofficial
The MEXC 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 introduce 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
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