Hong Kong Regulator Says Crypto Exchange MEXC Has Been Operating Without a License

• The Hong Kong’s Securities and Futures Commission warned the public that MEXC had been operating without a license.

• The country started accepting applications for crypto firms to get a license to operate in the county June last year.

Hong Kong’s Securities and Futures Commission (SFC) warned the public Friday that crypto exchange MEXC was operating in the territory without a license.

“The SFC will not hesitate to take enforcement action against unlicensed platforms where appropriate,” the SFC said in an emailed statement.

This is not the first time MEXC has fallen foul of regulators. Last April Japan’s Financial Services Agency said the exchange had been operating in the country without registration, as did Germany’s Federal Financial Supervisory Authority as recently as October.

The consumer alert is the SFC’s second this week as Hong Kong tries to establish its regulatory regime for the crypto industry. Yesterday it singled out crypto exchange Bybit. The regulator started consulting on rules for the sector last year, and firms had to get a license to operate in the country from June 1.