MEXC has confirmed it lacks authorisation under the European Union’s Markets in Crypto-Assets Regulation (MiCA).
The cryptocurrency exchange is also ending services in the Netherlands, Russia, and Belarus.
In its October 21 country restrictions guide, MEXC said it does not have permission to offer crypto services across the European Union (EU) and European Economic Area (EEA).
The Dutch Authority for the Financial Markets (AFM) warned MEXC on September 24, 2025. The regulator said the exchange offered cryptocurrency services to Dutch customers without the required approval.
The AFM also raised concerns about customer protection and MEXC’s unclear legal address. It noted that the exchange promoted its services through a Dutch-language social media account and sponsored a blockchain conference.
In March 2026, MEXC stopped bank transfers, peer-to-peer (P2P) transactions, fiat deposits, and third-party payments for customers in the Netherlands. It later divided affected accounts into four groups and set a schedule for closing them.
In a September 29 announcement, MEXC gave the final group until October 23 to complete the required steps. The exchange planned to restrict accounts from October 24 and finish the process by October 31.
However, its October 21 country guide lists November 16 as the final offboarding date. MEXC has not explained why the two documents give different deadlines. Affected customers should check their account notifications for their specific withdrawal and closure dates.
MEXC also warned that processing remaining positions and liabilities after restrictions begin could lead to fees or losses. The exchange expects to transfer remaining assets to a regulated custodian after the account closures. It said it would share further details separately.
MEXC Moves to End Services in Russia and Belarus
MEXC announced on October 20 that it would stop serving customers in Russia and Belarus. The exchange said it would send affected users instructions to close positions and withdraw funds.
The decision follows restrictions introduced in May 2026 on selected futures contracts. Those earlier restrictions affected customers in Russia, Belarus, Ukraine and Armenia.
However, the October announcement goes further for Russian and Belarusian customers by ending services. MEXC has not named a specific sanctions rule or government order behind the decision.
The Russia and Belarus restrictions also differ from the Netherlands case. The Dutch regulator specifically raised concerns about MEXC operating without the approval required under MiCA.
Customers who have not received a termination notice may continue using MEXC if they follow its existing terms. Meanwhile, the exchange has warned users about scammers who may target them during the withdrawal process.
MEXC said its staff would never ask users to share passwords or seed phrases. They would also never request payments or ask customers to transfer assets through private messages. The exchange advised affected users to follow official announcements and account notifications.
Exchange Lists 13 Prohibited Jurisdictions in Its Terms
MEXC’s October 13 User Agreement lists 13 jurisdictions where customers cannot use its services. These include the United States, Canada, the United Kingdom, Singapore, Hong Kong, mainland China, Malaysia, Kazakhstan, North Korea, Cuba, Iran, Sudan, and Russian-controlled Ukrainian territories.
The exchange also restricts locations covered by comprehensive US or EU sanctions and countries on the Financial Action Task Force’s high-risk list. MEXC may close accounts if customers provide false information about where they live.
In a related development, South Korea has also taken action against unregistered overseas cryptocurrency platforms. In October, authorities targeted MEXC and 26 other exchanges in a website crackdown.
