FSA takes enforcement action against MX Global Ltd for unlicensed virtual asset services operations |27 May 2026

FSA takes enforcement action against MX Global Ltd for unlicensed virtual asset services operations

The Financial Services Authority of Seychelles, through its Virtual Asset Services Supervision Section (VASSS), has positively identified and determined that MX Global Ltd, a Seychelles-incorporated International Business Company (IBC), is the entity operating the MEXC cryptocurrency exchange platform (www.mexc.com) without the required licence under the Virtual Asset Service Providers Act, 2024 (VASP Act).

The MEXC platform was historically associated with MEXC Global LTD (IBC No. 218833), a company previously incorporated under the International Business Companies Act, 2016, and was subsequently struck off the Seychelles register on August 17, 2023 and automatically dissolved on December 18, 2024. Following the enactment of the VASP Act and the end of the regulatory transition period on January 1, 2025, no application for licensing was received by the Financial Services Authority of Seychelles (FSA/the Authority) from any entity associated with the platform.

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