Cryptocurrency exchange MEXC has confirmed that it lacks authorization under the European Union’s MiCA framework and is winding down services in the Netherlands, while separate restrictions a
Cryptocurrency exchange MEXC has confirmed that it lacks authorization under the European Union’s MiCA framework and is winding down services in the Netherlands, while separate restrictions affect customers in Russia, Belarus and 13 prohibited jurisdictions.
SummaryAccording to an October 21 country restrictions guide, the exchange does not hold authorization to provide crypto-asset services under the Markets in Crypto-Assets Regulation across the EU and European Economic Area.
Meanwhile, the disclosure follows regulatory action in the Netherlands and separate service termination notices affecting Russia and Belarus. MEXC’s published terms prohibit customers from several major markets, although the restrictions have different legal and operational grounds.
MEXC’s withdrawal from the Netherlands follows a warning issued by the Dutch Authority for the Financial Markets, or AFM, on September 24, 2025.
The regulator warned that MEXC was offering cryptocurrency services to Dutch consumers without the authorization required under MiCA.
MEXC Lacks MiCA Authorization, Winds Down Netherlands as Restricted-Market List Expands MEXC said it does not hold MiCA authorization in the EU and EEA and is winding down services in the Netherlands, with final offboarding scheduled for November 16. The exchange is also… pic.twitter.com/1vJVFwt7bQ
— Wu Blockchain (@WuBlockchain) October 26, 2026
According to the AFM, the exchange had promoted its services through a Dutch-language social media account and sponsorship of a blockchain conference.
The regulator expressed concerns about customer protection, stating that MEXC’s absence from a commercial register made its legal domicile unclear.
You might also like: MEXC to exit Russia, Belarus as crypto exchange tightens compliance
In March 2026, MEXC suspended fiat-related services for Netherlands residents, covering bank transfers, peer-to-peer transactions, fiat deposits and third-party payments.
The exchange subsequently introduced a phased account closure process, assigning affected customers to four groups based on account information.
Its September 29 offboarding announcement identifies October 23 as the final group’s action deadline, with account restrictions beginning October 24 and completion scheduled for October 31.
However, the October 21 country guide describes November 16 as the final offboarding date.
MEXC has not reconciled those published dates. Customers must therefore follow the instructions attached to their accounts, especially where an earlier withdrawal deadline applies.
Alongside its European licensing problems, MEXC announced on October 20 that it would discontinue services for users in Russia and Belarus.
The exchange said affected account holders would receive individual notifications explaining how to close positions and withdraw funds.
“Your assets remain safe and secure,” MEXC stated in its official service notice.
‼️📢 Important Service UpdateMEXC will discontinue services for users in Russia and Belarus as part of our global compliance efforts.🔹 Your assets remain safe.🔹 Affected users will receive individual notifications with next steps and timelines.🔹 No notification? Your… pic.twitter.com/DHUodLOoos
— MEXC Customer Support (@MEXC_CST) October 21, 2026
Customers who have not received a termination notice may continue using the platform, provided they comply with its existing terms.
As crypto.news reported on October 21, the latest decision follows restrictions introduced in May on selected futures contracts for customers in Russia, Belarus, Ukraine and Armenia.
The October announcement concerns a different service restriction and does not establish a common deadline for every affected account.
Another cryptocurrency exchange, Bitget, restricted Russian and Belarusian customers following an October 16 update to its user agreement.
Some Bitget customers received October 21 withdrawal deadlines, although the exchange did not apply the date to all users.
MEXC has not identified a specific sanctions designation or government order behind its latest restrictions.
Beyond those service exits, MEXC’s October 13 User Agreement identifies 13 prohibited jurisdictions.
The list includes the United States, Canada, United Kingdom, Singapore, Hong Kong, Mainland China, Malaysia, Kazakhstan, North Korea, Cuba, Iran, Sudan and Russian-controlled Ukrainian territories, counted collectively as one entry.
Additional exclusions apply to countries covered by comprehensive EU or U.S. sanctions and jurisdictions on the Financial Action Task Force’s high-risk call-for-action list.
Under its terms, MEXC may terminate accounts where users misrepresent their residence or location, potentially liquidating open positions.
The company states that using a virtual private network does not override restrictions tied to a customer’s actual jurisdiction.
Its country guide distinguishes prohibited markets from countries where app availability or regulatory action limits access without an express prohibition in the User Agreement.
South Korea falls into the latter category, where regulators have taken action against unregistered overseas cryptocurrency platforms.
A separate South Korean website crackdown targeted MEXC and 26 other exchanges in October.
MEXC says its service availability depends on local rules, its contractual restrictions and account-specific compliance reviews.
For Netherlands-linked customers, the exchange’s detailed wind-down notice states that remaining positions and liabilities may be processed after restrictions begin, potentially generating fees or losses.
Assets remaining after the account batches are completed are expected to move to a regulated custodian, with further arrangements communicated separately.
In its Russia and Belarus notice, MEXC warned that staff would never request passwords, seed phrases, payments or asset transfers through private messages, directing affected customers to official announcements and account notifications.
Read more: Will Bitcoin price crash again as it falls below $80,000?
