The Securities and Futures Commission (SFC) of Hong Kong issued a “suspicious” warning about one of the leading cryptocurrency exchanges.
SFC updated the “suspicious cryptocurrency exchanges” list on Friday, March 15th. After the update, it was observed that the cryptocurrency exchange MEXC was added to this list.
In another update made by the regulatory authority on March 14th, it was stated that Bybit was operating in the country without a license. These consecutive warnings were interpreted as a clear call to exchanges. SFC expressed that it will not hesitate to apply sanctions if unlicensed activities continue:
SFC will not hesitate to take action against unlicensed platforms when appropriate.
Last June, Hong Kong started accepting applications from cryptocurrency companies to obtain licenses to operate in the region.
Last October, BaFin, the financial markets regulator of Germany, warned that the cryptocurrency exchange MEXC was operating without authorization and legal registration.
