6 minute read
Is MEXC Exchange Banned in France? Review Broker
from MEXC Exchange
by XM Blog
No, MEXC Exchange is not officially banned in France. However, it is not authorized or registered with the French financial regulatory authority, the Autorité des Marchés Financiers (AMF), which means operating or using the platform in France comes with legal and financial risks. French authorities have also taken steps to blacklist the platform, making it inaccessible through normal internet service providers in the country. So while MEXC is not technically banned by law, its unregulated status and blocked access make it functionally restricted within France.
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Let’s explore what this means in detail, and what French users should know before considering the use of MEXC Exchange.
Understanding the Legal Landscape for Crypto in France
France is one of the leading countries in the EU when it comes to financial regulation, and it has taken a strong stance on overseeing cryptocurrency platforms. The Pacte Law, passed in 2019, requires crypto platforms to register as a Digital Asset Service Provider (DASP) with the AMF. This includes platforms that offer custody of digital assets, buy/sell services, or crypto-crypto trading.
As of now, MEXC has not obtained DASP registration. This alone does not make it illegal, but it means MEXC cannot legally market its services to French users. Additionally, unregistered platforms can be subject to warnings or blacklisting, and that’s exactly what happened.
AMF and ACPR Warnings Against MEXC
In December 2023, the AMF and the Banque de France’s supervisory authority ACPR jointly issued a warning about MEXC. They added the exchange to the official blacklist of unauthorized investment websites. The warning highlighted that MEXC was offering services in France without authorization and was potentially violating financial promotion laws.
This warning serves as a public signal that MEXC is not trusted or regulated in the eyes of French authorities. It’s not a formal ban, but it’s a clear indication that using the platform is discouraged and may expose users to risks.
What Does Being Blacklisted Mean?
Being blacklisted by the AMF means that ISPs in France may be asked to block access to the domain names associated with the exchange. This does not remove MEXC from the global internet, but it does limit access for users located in France. Some may bypass this block using VPNs, but doing so might violate local laws or expose users to further risks.
In practical terms, blacklisting is a way to enforce de facto restrictions on platforms that operate without following French regulations. It’s a strong move, even if it’s not the same as a legal ban.
Can French Residents Still Use MEXC?
Technically, yes—some users in France still access MEXC through VPNs or by bypassing IP restrictions. But this is done at their own risk. By using an unregistered platform, they are:
Not protected by French consumer protection laws
At risk of losing funds without legal recourse
Violating regulatory guidance
Potentially in breach of France’s financial promotion laws if they refer others
It’s also important to note that as regulations tighten under the Markets in Crypto-Assets Regulation (MiCA) coming into effect across the EU, unregistered exchanges like MEXC may face even stricter enforcement.
Why Hasn’t MEXC Registered in France?
There are a few potential reasons:
Regulatory Burden – France has strict anti-money laundering (AML) and know-your-customer (KYC) requirements. These standards can be too demanding for some offshore platforms.
Business Model Conflicts – MEXC offers leveraged products, futures trading, and other features that might require additional licensing under French law. Compliance with these rules may not align with MEXC’s current business operations.
Cost and Complexity – Getting DASP approval takes time, legal work, and a local presence. Some platforms decide to avoid this route altogether.
Whatever the reason, the result is clear: MEXC is operating outside the bounds of French financial regulation, which creates trust and legal issues for users in the country.
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What Are the Risks of Using MEXC in France?
Regulatory Crackdowns: If French authorities intensify enforcement, MEXC users could face unexpected account freezes, loss of funds, or legal complications.
Lack of Protection: Users have no way to report fraud or recover losses through French legal channels.
Data Privacy Risks: Offshore exchanges may not follow EU-standard data protection regulations (like GDPR).
Asset Security Concerns: In the absence of regulation, users cannot be sure how MEXC stores their digital assets or whether there are real security safeguards in place.
How Does MEXC Compare to Regulated Alternatives?
France has welcomed several regulated crypto exchanges. Platforms like Binance France, Bitstamp, Crypto.com, and eToro have gone through the DASP registration process and are supervised by the AMF. These platforms are:
Fully legal in France
Subject to consumer protection laws
Required to report suspicious transactions
Held to high cybersecurity and operational standards
Compared to these, MEXC offers less regulatory transparency, even if it sometimes offers more trading options or better fees. But for many users, compliance and legal safety outweigh convenience.
What Should You Do If You’ve Used MEXC in France?
If you're currently a MEXC user living in France, here are steps you might consider:
Withdraw your funds to a secure wallet or to a regulated platform.
Avoid referrals or sharing promotional links, as promoting unauthorized platforms may violate French law.
Stay informed by checking the AMF’s blacklist and any future regulatory updates.
Consider switching to an AMF-approved exchange for long-term investment or trading.
Using a platform that operates outside French regulatory frameworks might not get you into immediate legal trouble, but it increases risk and limits your protections if something goes wrong.
Could MEXC Become Legal in France in the Future?
It’s not impossible. If MEXC chooses to register as a DASP and adapts its platform to meet French legal requirements, it could become a legitimate option in the French market. This would involve:
Registering with the AMF
Meeting anti-money laundering standards
Offering clear disclosures
Implementing consumer protection measures
However, there is currently no public indication that MEXC intends to pursue this path. Unless that changes, it is likely to remain on the blacklist and outside the regulated French crypto environment.
Final Verdict: Not Banned, But Not Legal Either
To sum it up, MEXC Exchange is not outright banned in France, but it is also not legal or authorized to operate there. The platform has been blacklisted by French regulators for offering services without registration, and it cannot be promoted or accessed through official channels within the country. French residents can technically access it with workarounds, but doing so puts them at legal, financial, and data privacy risk.
For French users who value legal compliance and investor protection, it's advisable to avoid using MEXC until it becomes properly registered. Opt instead for one of the regulated exchanges that offer a secure, compliant trading environment under the supervision of the AMF.
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