The financial watchdog’s warning comes a day after it cautioned investors about Bybit exchange.
Hong Kong’s Securities and Futures Commission (SFC) added cryptocurrency exchange MEXC to its warning list on March 15.
MEXC is actively promoting its services to Hong Kong-based investors despite not being licensed by the SFC nor having applied for a virtual asset trading platforms (VATP) license to operate in Hong Kong, according to the FSC’s statement.
“Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, it is an offense to carry on a business of providing a virtual asset service (i.e., operating a virtual asset exchange) in Hong Kong and/or actively marketing such services to Hong Kong investors without a license.”
