<![CDATA[<figure class="image"><img src="https://cimg.co/news/126625/334359/bafin.jpeg" srcset="https://cimg.co/news/126625/334359/responsive-images/bafin___media_library_original_1280_851.jpeg 1280w, https://cimg.co/news/126625/334359/responsive-images/bafin___media_library_original_1200_798.jpeg 1200w, https://cimg.co/news/126625/334359/responsive-images/bafin___media_library_original_900_598.jpeg 900w, https://cimg.co/news/126625/334359/responsive-images/bafin___media_library_original_720_479.jpeg 720w, https://cimg.co/news/126625/334359/responsive-images/bafin___media_library_original_600_399.jpeg 600w, https://cimg.co/news/126625/334359/responsive-images/bafin___media_library_original_300_199.jpeg 300w" width="1280" class="content-img" alt=""><figcaption>Source: Adobe / Kay Gebauer/Wirestock</figcaption></figure>Germany&rsquo;s Federal Financial Supervisory Authority (BaFin) has <a href="https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2023/meldung_2023_10_17_mexc_en.html;jsessionid=B59EBBE4E875BE729DF4F9A92E968D83.internet941">warned</a> consumers about the crypto exchange MEXC, saying it is offering crypto-related financial services &ldquo;without the authorization.&rdquo;&ldquo;BaFin investigates the company MEXC,&rdquo; the title of the warning published on the German regulator&rsquo;s website on Thursday said.It added:&ldquo;The Federal Financial Supervisory Authority (BaFin) warns consumers about the company MEXC and the services it is offering.&rdquo;The warning further made it clear that financial services &ldquo;may only be offered in Germany if the company providing these services has the necessary authorisation from BaFin to do this.&rdquo;<figure class="image"><img src="https://cimg.co/news/126625/334358/bafin-notice.jpg" srcset="https://cimg.co/news/126625/334358/responsive-images/bafin-notice___media_library_original_1720_496.jpg 1720w, https://cimg.co/news/126625/334358/responsive-images/bafin-notice___media_library_original_1200_346.jpg 1200w, https://cimg.co/news/126625/334358/responsive-images/bafin-notice___media_library_original_900_260.jpg 900w, https://cimg.co/news/126625/334358/responsive-images/bafin-notice___media_library_original_720_208.jpg 720w, https://cimg.co/news/126625/334358/responsive-images/bafin-notice___media_library_original_600_173.jpg 600w, https://cimg.co/news/126625/334358/responsive-images/bafin-notice___media_library_original_300_87.jpg 300w" width="1720" class="content-img" alt=""><figcaption>BaFin notice about MEXC. Source: bafin.de</figcaption></figure>MEXC has so far not commented on the news that it is being investigated by BaFin, and no other details are currently known.MEXC is one of the top 20 largest crypto exchanges in world by spot trading volume, according to CoinMarketCap&rsquo;s ranking of exchanges.The exchange had a spot trading volume of close to $800 million over the past 24 hours as of press time.
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Unauthorized Crypto Custody: BaFin Cautions Consumers About MEXC

Cryptonews.com

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