MEXC review: licences, terms and gambling clause
Can you deposit to a casino from MEXC?
Not within its terms: MEXC's binding document lists gambling, casino games included, as a prohibited use, in User Agreement, clause 19), prohibited businesses. Its terms let it freeze or suspend an account without prior notice. No registration is confirmed in an issuing register. 6 points are not verified. 1 primary-source incident is recorded. KYC rules: no data in this entry.
Documents last checked Reviewed by CryptoGuardz Register Desk, editorial desk
Disclosure: CryptoGuardz has no commercial relationship with MEXC, earns nothing if you open an account there, and has not contacted the company or given it notice of this entry. Every statement below is either a verbatim quote from a document MEXC publishes or a statement about a public register, and both carry the date they were read. Corrections go to the corrections page.
1. What this means for you
Consequences first, in the conditional, each one produced by a clause in a document MEXC publishes itself. Every line links to that clause, quoted in full and dated.
- Your account can be frozen if you send funds to a casino from MEXC The terms list gambling, casino games included, as a prohibited use with no licensing exception. The clause is quoted in section 10.
- Your account can be frozen without notice if MEXC decides it should be The suspension clause is discretionary and its list of grounds closes with a catch-all that swallows the list. The clause is quoted in full below.
- Your withdrawal can be suspended if MEXC decides an incident on the platform requires it The withdrawal clause sets no maximum duration and no external test for when an incident is resolved.
- Your coins can be pooled with everyone else's if MEXC holds them the way its terms describe The terms state that client assets may not be segregated from the exchange's own assets.
- You cannot tell what happens to your coins if MEXC fails, because the binding document does not say There is no insolvency clause in the terms. A reader is left to infer their position as an unsecured creditor from a document that declines to state it.
- Your positions can be closed and your assets sold or converted if MEXC decides to do it The liquidation clause operates in the exchange's absolute discretion, without further instruction from you.
- You have no authority to complain to if something goes wrong, because no registration could be confirmed No authorisation claimed by MEXC was found in an issuing authority's own public register.
- Your own regulator may already have warned against using MEXC MEXC is named on the official register of entities providing crypto-asset services without the required authorisation.
- You cannot rely on the proof of reserves as an audit, because nobody outside MEXC signed it No accountant, auditor or attestation firm is named, no engagement standard is referenced, and nothing in the exercise addresses what the exchange owes.
2. What this entry records, and what it does not
This register publishes no number for an exchange. The payout score on the casino register has five defined components and a published arithmetic; no equivalent instrument exists here, and inventing one to fill the space would be a measurement nobody made. What follows instead is a field-by-field account of what was read, where it was read and when.
| Binding terms | Read in full 12 clauses captured verbatim across 7 topics, retrieved 2026-09-22 |
|---|---|
| Contracting entity | MEXC Trading PlatformNo jurisdiction of incorporation stated in the binding document · no company number stated |
| Registration check | Nothing confirmed in any issuing registerESMA interim MiCA register, published CSV, read 2026-09-22 |
| Proof of reserves | Published, self-signedSigner: MEXC itself. |
| Insolvency outcome | Not disclosedThe binding document contains no insolvency clause. This is an absence in their document, not a gap in our reading. |
| Withdrawal test | Not measuredNo first-party deposit or withdrawal has been run against this exchange. It would require funding an account, which this register has not done. Until it has, nothing here is a measurement of how fast the exchange pays. |
| On-chain reserve verification | Not measuredNo independent reconstruction of the Merkle tree or of the exchange's wallet holdings has been attempted. |
3. What we could not verify
Every entry carries this section. The gaps are published because a reader deserves the limits of the check as well as its results.
- The identity of the legal entity that contracts with a retail user. The User Agreement names only "MEXC Trading Platform", which is not a legal person. No company number, jurisdiction of incorporation or registered address appears in the binding document.
- What happens to customer assets if MEXC becomes insolvent. The User Agreement has no insolvency clause, no segregation clause and no statement of whether customer assets are held on trust or pooled. The only custody statement is that MEXC "maintains full custody".
- Whether MEXC holds any licence or registration anywhere. None is claimed in the binding document and none was found in any register searched.
- The AFM's own press page for the MEXC warning, at https://www.afm.nl/en/sector/actueel/2025/sep/pb-mexc, returned a 404 error page at retrieval. The determination is recorded here from the ESMA register file, which is itself the official record and which cites that AFM URL.
- The size and current balance of the advertised $100M Guardian Fund. The balance field rendered as a dash.
- Reserve coverage for any asset other than USDT, USDC, BTC and ETH.
4. Who you are contracting with
The counterparty named in the binding document, not the brand on the website. This is the company a claim would be brought against and whose insolvency estate a user would be a creditor of.
| Named counterparty | MEXC Trading Platformsource · retrieved 2026-09-22 |
|---|---|
| Jurisdiction of incorporation | Not disclosedNo place of incorporation is stated in the binding document read. What the document does say is in the notes below. |
| Company number | Not disclosedNo company number appears in the binding document, so the entity cannot be looked up in any companies register from that document alone. |
The User Agreement, last updated 29 May 2025, states: "This User Agreement is concluded between you (\"You\" or \"User\") and MEXC Trading Platform (\"we\", \"us\", \"our\", \"ours\", \"MEXC\", or, the \"Platform\")." MEXC Trading Platform is a trading name, not a legal person. No company, no jurisdiction of incorporation, no company number and no registered address appear anywhere in the agreement.
This is the sharpest entity finding in the cohort. The user cannot identify from the binding document who they are contracting with, which means they cannot identify who to sue, in which courts a judgment would be enforced, or which insolvency estate they would be a creditor of.
The agreement is nonetheless governed by the laws of England and Wales and routes disputes to arbitration in Hong Kong, neither of which is the jurisdiction of any named entity, because no entity is named.
The European Securities and Markets Authority register of non-compliant entities names the entity as MEXC Global, with commercial name MEXC and website https://www.mexc.com/, following a decision of the Netherlands Authority for the Financial Markets dated 16 September 2025. That is a regulator's identification, not the exchange's own.
This Agreement and the Legal Documents shall be governed by the laws of England and Wales, without reference to its conflict of laws provisions.mexc.com
5. Registrations, claimed and confirmed
No registration MEXC claims could be found in an issuing authority's own public register. That is an absence of confirmation, not evidence that a registration is invalid. MEXC's User Agreement claims no licence or registration in any jurisdiction. The only entry any register produced for MEXC is a non-compliance listing.
This is the opposite of a registration. MEXC is listed on the official ESMA register of non-compliant entities providing crypto-asset services. The register's own reason field reads: "MEXC Global provides crypto-asset services in the Netherlands without the required MiCAR license. MEXC is in breach of section 59 MiCAR." Decision date 16 September 2025, record last updated 25 September 2025. This entry was read directly in the ESMA register file.
| Authority | Kind | Confirmed | What it covers |
|---|---|---|---|
| European Securities and Markets Authority (MiCA register of authorised crypto-asset service providers) | authorisation | no | Negative check. The official ESMA interim MiCA register of authorised crypto-asset service providers, 417 rows, last updated 16 September 2026, was downloaded and searched. The string MEXC does not appear. MEXC holds no EU CASP authorisation. |
| European Securities and Markets Authority (MiCA register of non-compliant entities), on notification by the Netherlands Authority for the Financial Markets (AFM) | adverse listing | listed | This is the opposite of a registration. MEXC is listed on the official ESMA register of non-compliant entities providing crypto-asset services. The register's own reason field reads: "MEXC Global provides crypto-asset services in the Netherlands without the required MiCAR license. MEXC is in breach of section 59 MiCAR." Decision date 16 September 2025, record last updated 25 September 2025. This entry was read directly in the ESMA register file. |
6. Proof of reserves
MEXC publishes a proof of reserves and signs it itself. No accountant, auditor or attestation firm is named, no engagement standard is referenced, and what is published is a cryptographic snapshot the exchange produces about itself. It says nothing about what the exchange owes.
| Signer | MEXC itself. No independent accountant, auditor or attestation firm is named on the disclosure. |
|---|---|
| Standard | None stated. The page is a live reserve-ratio dashboard. No engagement standard is referenced and no attestation report is published. |
| As of | 2026-09-09T12:00:00-04:00 |
| Covers liabilities | noNothing in the exercise addresses borrowings, loan obligations, off-chain claims, or whether the set of user balances in the tree is complete. |
| Page | mexc.comretrieved 2026-09-22 |
Reserve Rate Exceeds 100%mexc.com
No scope limitation is published. The quote recorded above is the page's own headline claim, recorded verbatim because there is no limitation text to quote. Nothing on the page addresses liabilities, off-chain obligations, borrowed assets or the completeness of the user liability set.
Coverage is four assets only: USDT 119.10%, USDC 111.12%, BTC 297.13%, ETH 110.65%. The figures are stated as MEXC Wallet Total Assets against MEXC Total User Assets, both self-reported. The page records: "Current snapshot: 2026-09-09 12:00:00 (UTC-4)".
The page also advertises a "$100M Guardian Fund" with the label "Full and instant coverage for platform issues". The Available Fund Balance rendered as a dash at retrieval, so no amount could be read.
7. Custody, segregation and insolvency
What the binding document says about where your coins sit and what happens to them if the exchange fails, quoted rather than characterised.
MEXC maintains full custody of the assets, funds and User data/information which may be turned over to governmental authorities in the event of MEXC Accounts’ suspension/closure arising from fraud investigations, investigations of violation of law or violation of this Agreement.mexc.com
There is no clause in MEXC’s terms describing what happens to customer digital assets if MEXC itself becomes insolvent. A user is left to infer that they are an unsecured creditor from a document that declines to say so. The absence is recorded as Not disclosed: it is a gap in their document, not in our reading of it.
8. Freezing your account
3 clauses, quoted in the order they appear in the document. Read the last one first: it is the ground that swallows the others.
MEXC shall be entitled in its sole and absolute discretion, without prior notice, to suspend, terminate the provision of part or all of the MEXC services to you for any reason, as well as suspend or permanently freeze (cancel) your account in MEXC, and shall not be liable to you or any third party for so doing, however, MEXC has the right to retain the trade data, history and other information relating to the account, as well as the application and use of such information.mexc.com
Upon the termination of your account services or the permanent freezing (cancellation) of your account on MEXC, MEXC shall have no obligation to retain or disclose to you any information in your account, or to forward to you or a third party any information you have not readmexc.com
(e) Other circumstances in which MEXC believes that the service should be terminated.mexc.com
9. Suspending withdrawals
(b) We constantly set and adjust daily trading and cash withdrawal limits based on security requirements and actual state of trade;(c) We may temporarily restrict trading activity(ies) and freeze any Account pending further investigations, in order to protect Assets of the User and MEXC, and/or to comply with any ongoing judicial/regulatory investigations and/or requests;mexc.com
The User agrees that if the identity verification procedure for his/her/its User account fails to be completed, MEXC has the right to terminate the supply of User account services without prior notice to the User, and MEXC may promptly suspend, close or delete the User account and all relevant materials and files in the User account.mexc.com
10. Sending funds to a casino from MEXC
MEXC's terms prohibit gambling as a category, with no exception for a licensed casino. A deposit sent from MEXC to a crypto casino is a prohibited use under the clause below.
(i) Gambling activities, including but not limited to, sports betting, casino games, horse racing, dog racing, lotteries, games of chance, sweepstakes, games of skill that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoingmexc.co
MEXC has the right to monitor your transaction and/or account activities to determine, under our absolute sole discretion, if your use of MEXC Services constitutes any of the prohibited businesses.mexc.co
mexc.com/terms returned HTTP 403 on 28 September 2026; the same User Agreement was read at mexc.co/en-GB/terms. The list names "casino games" and "games of chance" with no licensing qualifier, and MEXC reserves the right to monitor transactions to enforce it.
11. Which networks MEXC withdraws USDT on
No dataThe network list could not be confirmed. See the note below.
MEXC's withdrawal network data could not be retrieved: mexc.com returned HTTP 403, the public capital configuration endpoint requires an API key, and the mexc.co fee page loaded no network list. Not verified. Source. Which DEXes operate on each of those chains is in the DEX register.
12. Amendment, liquidation, arbitration and governing law
The clauses that decide what the contract can become, what can be done to an open position, and where a dispute would be heard.
it will be deemed that you have read and agreed to all the terms and conditions specified in this User Agreement and Privacy Policy ("Agreement"), as well as the amendments and updates which we may make thereto, and any other agreements, terms, conditions, guidelines, rules, or written instructions, including the MEXC Risk Control Guidelines, as published by MEXC on its website, Apps, or other Services and amendments and changes thereto, from time to timemexc.com
MEXC reserves the right to change, modify or impose additional restrictions with respect to the access to and use of MEXC Platform and/or MEXC Services from time to time at their discretion at any time without prior notification.mexc.com
Notwithstanding any provision of this Agreement, MEXC may provide a written notice requiring you to close all of your open positions and withdraw all of your assets from your MEXC Account within a limited period of time as determined by MEXC. In the event that you fail to do so, MEXC may, in its absolute discretion and without prior notice to you:(a) deem your MEXC account as a dormant account;(b) close any open positions in any MEXC products;(c) convert the Digital Assets to a different type of Digital Asset (e.g., from BTC to USDT).(d) close a dormant account at any time, and MEXC will not be liable for any loss, damage or expemexc.com
The arbitration shall be subject to the HKIAC Administered Arbitration Rules (HKIAC Rules) in force when the Notice of Arbitration is submitted, as modified by this Agreement. The arbitration will be administered by the Hong Kong International Arbitration Centre (HKIAC). Unless the parties agree otherwise, there shall be three (3) arbitrators appointed in accordance with the HKIAC Rules.mexc.com
If applicable law prohibits a one-year limitation period for asserting claims, any claim must be asserted within the shortest time period permitted by applicable law.mexc.com
13. Public record
Matters of public record, taken from primary sources and stated with them. They are not scored, because a historical event is not a measurement of how the exchange behaves today, and leaving them out while citing the sources would be worse.
The Netherlands Authority for the Financial Markets determined that MEXC provides crypto-asset services in the Netherlands without the required MiCAR licence, in breach of Article 59 MiCAR, and issued a public warning. The determination is recorded on the European Securities and Markets Authority's official MiCA register of non-compliant entities, where the reason field reads: "MEXC Global provides crypto-asset services in the Netherlands without the required MiCAR license. MEXC is in breach of section 59 MiCAR." The register record was last updated 25 September 2025 and MEXC was still listed in the file published 16 September 2026.
14. Who should avoid MEXC
Anyone who needs an authority to complain to. No registration MEXC claims could be confirmed in an issuing register, so there is no supervisory body this register can point a user at when something goes wrong. And anyone who wants to know, before depositing, where they would stand if the exchange failed: the document does not answer that question.
A reader in the European Economic Area should also know that MEXC is named on the official register of entities providing crypto-asset services without the required authorisation, on a determination by a national regulator.
Related entries
Or read the whole exchange register, the same method applied to wallets and to crypto casinos, the clause library at clause watch, or how this register works.