MEXC Tiptoes on Thin Ice with Unlicensed Trading Platform

The Securities and Futures Commission (SFC) has issued a warning
to the public regarding a purported virtual asset trading platform (VATP)
operating under the name “MEXC.”

The SFC’s caution comes amidst the active promotion of its
services to Hong Kong investors, despite MEXC neither holding a license from
the SFC nor initiating the process to obtain one for operating a VATP in Hong
Kong.

Operating a business of providing virtual asset services,
such as running a virtual asset exchange
Exchange

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term, without proper licensing is a
violation of the Anti-Money Laundering
Money Laundering

Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund

Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund
Read this Term and Counter-Terrorist Financing
Ordinance. Furthermore, actively marketing such services to Hong Kong investors
without authorization is considered unlawful.