MEXC

Dubai stopped it, and named the company

On 22 June 2026 the Virtual Assets Regulatory Authority fined MX Global Ltd, which operates MEXC, finding the company "providing Virtual Asset Broker-Dealer and/or Exchange Services to customers in Dubai without obtaining the necessary licence from VARA" between 2022 and April 2026, and separately that it had onboarded users without meeting the know-your-customer obligations UAE law requires 1. It directed the company to "immediately cease and desist from all unlicensed Virtual Asset activities in or from Dubai".

Two things the notice says that a summary would drop. It records that the company cooperated fully and stated an intention to pursue proper licensing — which is not nothing. And it does not state the amount of the fine, so neither does this page; a figure we cannot see is a figure we do not print.

Japan had named MEXC Global of Singapore on its list of unregistered crypto-asset exchange operators twice: in March 2023 and again, with a fresh warning, on 28 November 2024 2. Being named twice is a different signal from being named once.

What you are trading against

MEXC has the lowest taker fee here by a wide margin and the widest listing of new tokens, and both are real advantages for a particular kind of trader. The record also shows it does not disclose its legal entity or publish incident reports, and has no insurance fund — the thinnest transparency of the eight.

That combination is the trade this page exists to make legible. Cheap execution, fast listings, and the least visibility into who you are dealing with or what happens when something goes wrong. The regulators above are, between them, the only outside check on this company anybody has published — and the only reason this page can name the operating company at all is that Dubai 1 and Tokyo 2 each wrote it down.

The map of where it can still operate is shrinking

Beyond the two enforcement matters, MEXC has been leaving markets. It told users in the European Economic Area to withdraw before the transitional period under the EU’s markets in crypto-assets regime ended on 1 July 2026, holding no authorisation under it and not appearing on the European regulator’s register; and it suspended services to Indian addresses while it works on registration with that country’s financial intelligence unit 3.

For a reader the practical question is simply whether the exchange will still take them next year, and the answer has been changing. That is not misconduct — a firm withdrawing from a market it is not licensed in is doing the correct thing rather than the other one — but it is a fact about availability that a fee table cannot carry, and it is the pattern behind both the Dubai order and the Japanese warnings above.