Hong Kong Securities and Futures Commission adds MEXC to the alert list of suspicious virtual asset trading platforms

The Securities and Futures Commission of Hong Kong issued a warning today, reminding the public to beware of a suspected unlicensed virtual asset trading platform called "MEXC". It stated that although MEXC actively promotes its services to Hong Kong investors, it has not obtained a license from the Securities and Futures Commission or applied for a license to operate a virtual asset trading platform in Hong Kong. According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, operating a virtual asset service business without a license in Hong Kong or actively promoting related services to Hong Kong investors will constitute a criminal act. The China Securities Regulatory Commission has today added MEXC and its website to the alert list of suspicious virtual asset trading platforms, and once again warned investors of the risks, pointing out the possible losses they may face when buying and selling virtual assets on unregulated virtual asset trading platforms. The China Securities Regulatory Commission stated that it will take decisive enforcement actions against unlicensed platforms under appropriate circumstances.