TechFlow reports that Germany's financial regulatory authority, the Federal Financial Supervisory Authority (BaFin), has warned consumers that the exchange MEXC has been providing financial services without authorization.
BaFin stated that MEXC’s cryptocurrency custody services require prior authorization from BaFin, and noted on its website: "Only companies with the necessary authorization may provide financial services in Germany."
In addition, in April this year, Japan's Financial Services Agency (JFSA) also issued a warning letter stating that MEXC Global has been operating in Japan without the required registration.
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