SFC Admonishes MEXC’s Unlicensed Operations

The regulatory authority, SFC, in Hong Kong has admonished MEXC for operating without a license. This warning comes after cryptocurrency exchanges were required to obtain a license from June of last year onwards. SFC emphasized its decisive action against platforms that do not comply with regulations related to cryptocurrencies. Strict Regulations Against Unlicensed Activities SFC’s statement was made to highlight MEXC’s unlicensed operations in Hong Kong. The regulator expressed its commitment to enforcing sanctions against unlicensed platforms, maintaining compliance in the cryptocurrency sector. This is not the first warning of this kind for MEXC, as regulators in Japan and Germany have also issued similar warnings. This situation indicates international regulatory issues for the exchange. Following the Warning to Bybit In addition to the warning to MEXC, SFC had issued a similar warning to Bybit just one day prior. Within the framework of new regulations mandating cryptocurrency exchanges to obtain licenses […]

SFC Admonishes MEXC’s Unlicensed Operations

The regulatory authority, SFC, in Hong Kong has admonished MEXC for operating without a license. This warning comes after cryptocurrency exchanges were required to obtain a license from June of last year onwards. SFC emphasized its decisive action against platforms that do not comply with regulations related to cryptocurrencies.

Strict Regulations Against Unlicensed Activities

SFC’s statement was made to highlight MEXC’s unlicensed operations in Hong Kong. The regulator expressed its commitment to enforcing sanctions against unlicensed platforms, maintaining compliance in the cryptocurrency sector.

This is not the first warning of this kind for MEXC, as regulators in Japan and Germany have also issued similar warnings. This situation indicates international regulatory issues for the exchange.

Following the Warning to Bybit

In addition to the warning to MEXC, SFC had issued a similar warning to Bybit just one day prior. Within the framework of new regulations mandating cryptocurrency exchanges to obtain licenses in Hong Kong, the regulatory authority issued two significant warnings this week.

Regulatory measures for Hong Kong’s cryptocurrency sector continue to require licenses for cryptocurrency companies and increase investor confidence. These steps strengthen the formation of the regulatory framework and transparency in the sector.

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