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Mexc prohibited in France? Everything you need to know
Mexc is still accessible in France , but he now faces regulatory restrictions . In June 2024 , the platform was added to the black list of the Financial Markets Authority (AMF) , which means that it is not authorized to offer its services to French residents .
However, access to the site has not been blocked by Internet service providers (ISP) in France, and users can still open an account and trader . That said, this situation asks several essential questions:
- What are the real risks to use Mexc in France?
- Why was the platform placed on a blacklist?
- Are there safe and regulated alternatives to invest in peace?
In this article, we will clarify the situation of Mexc in France , explain what its registration on a blacklist really means , and guide you to the best options to invest in cryptos safely . 🚀
Table of contents
Consequences of the registration of Mexc on black list in France
The AMF (Autorité des Marchés Financiers) added MexC to its black list in June 2024. This AMF black list lists the unregulated Exchanges which do not comply with the legal obligations imposed on the platforms wishing to propose trading in France. Concretely, to be authorized to address French residents, a platform must appear in the PSAN register, that is to say being registered as a service provider on digital assets.
A Crypto platform which is not registered PSAN has no right to actively solicit French customers . In theory, this means that users in France should not be able to register or deposit funds there .
Why would Mexc in France be prohibited "in theory"?
The AMF does not have the coercion powers necessary to technically prohibit access to Mexc or completely prevent French users from depositing funds there. Unlike banking regulators who may impose direct restrictions on financial institutions , the AMF cannot directly block transactions between a platform and its customers.
🔹 No legal ban for Mexc users in France
- There is no law in France prohibiting individuals from using a black list platform .
- The ban concerns the platform itself , which is not allowed to operate in France , but that does not mean that French users are illegal by accessing it.
- The only possible legal sanction would be against the platform itself , but as long as Mexc has no entity in France , it is difficult to initiate prosecution.
🔹 No control over Mexc's international payment methods
- The AMF has no authority on foreign means of payment used to feed an account on Mexc (cryptocurrencies, transfers from banks outside the EU, prepaid cards, etc.).
- Even if some French banks can refuse transactions to Mexc, this remains on a case -by -case basis and depends on the bank's policy, not a general ban.
2️⃣ Mexc cannot advertise in France
One of the AMF levers to limit the influence of Mexc is to prohibit any promotion of the platform in France .
How does the AMF apply these prohibitions?
The AMF has several levers to limit the promotion of Mexc in France:
Active monitoring of Mexc advertisements in France
- The AMF monitors advertising campaigns on Google, YouTube, Tiktok, Instagram and other platforms .
- She can ask these platforms to delete illegal announcements promoting Mexc.
Warning and sanctions against influencers
- The AMF can continue any influencer or media based in France which promotes Mexc.
- Several influencers have already been punished for illegal promotion of unregulated platforms .
Request for deleting illegal content from Mexc in France
- If a French site, blog or forum promotes Mexc, the AMF can ask hosts to delete content .
Blocking paid advertising campaigns from Mexc in France
- Companies like Meta (Facebook, Instagram), Google and Tiktok often apply restrictions on the promotion of platforms in black list.
- Google Ads already prohibits advertising for non -PSAN exchanges in France.
Can we still use MexC in France in 2024?
The risks of using Mexc in France
❌ No recourse in the event of a problem
if your funds are blocked or in the event of a dispute, you will not be able to turn to a French authority to obtain compensation .
❌
Mexc regulatory compliance problems one day be completely blocked in France if the AMF asks Internet access providers (ISP) to restrict access .
❌
MEXC possible account gel accused of blocking the accounts of certain users under the pretext of "suspicious activities", without clear explanation.
What are the best alternatives to Mexc in France?
In order to avoid the risks linked to Mexc , we advise to opt for a regulated and registered PSAN platform . Here are the best alternatives :
Binance
Binance , the world leader in cryptocurrency exchange platforms, is authorized PSAN in France, guaranteeing its compliance with local regulations. It offers a complete offer including the spot trading, term contracts, leverage, as well as various financial services. Its extended ecosystem also incorporates Stuking and a Launchpad dedicated to new Crypto projects.
Bitvavo
Bitvavo, European Exchange based in the Netherlands, is recognized for its competitive costs and transparency. Accessible to both beginners and experienced traders, it benefits from PSAN approval and appears on the AMF white list. The platform is distinguished by a clearly displayed policy policy, limiting spreats and avoiding hidden costs often present on other exchanges.
Coinbase
Although the Coinbase fees are often higher than those of its competitors, the platform stands out for its reliability and its ease of use. Approved PSAN, it offers an intuitive interface and reactive customer service, thus guaranteeing a secure experience and accessible to beginners. Its commitment to the regulation and protection of investors strengthens its reference position on the French market.
Alternative to Mexc in France: invest in crypto without going through a centralized exchange
If you want to completely avoid the risks linked to centralized exchanges , an alternative consists in buying and storing its cryptos directly from a decentralized wallet ( Metamask , Exodus, Trust Wallet , etc.) .
The advantages of decentralized trading (DeFi):
✔️ No central platform controls your funds
✔️ Possibility to buy directly on the
blockchain ✔️ Total anonymity, without KYC
📌 Do you want to learn to decentralize your funds and secure your cryptos?
We have created an ultra-detailed guide which explains step by step how:
- Buy cryptos safely
- Store your assets on a decentralized portfolio
- Interact with the blockchain without intermediary
📥 You can Elechart our free crypto guide by completing the form below. It allows both to learn to buy your first crpytomonnaies on a centralized exchange and to use a decentralized wallet thanks to the blockchains. It is an ultra -detailed guide, step by step with screenshots:
Can Mexc get around these prohibitions in France?
Even if Mexc cannot do direct advertising in France , certain strategies still make it possible to reach users:
Use of foreign influencers : A creator of content -based can always speak of Mexc.
Indirect advertising : Some sites or media use diverted keywords to avoid being identified.
Unofficial campaigns : affiliates can create blogs, YouTube channels or Telegram groups to promote Mexc, without the platform officially appearing.
SEO and social networks : Mexc can still be mentioned in articles, forums, videos and discussions , without formal advertising.
What risks for those who promote Mexc in France?
For influencers and media :
- Financial sanctions (fines of up to several hundred thousand euros).
- Judicial risks if the AMF considers that there is deception or incentive to an illegal activity.
- Blocking advertising accounts (Google, Facebook, Tiktok).
For French traders :
- Risk of restricted access in the event of future blocking of the site.
- No recourse in the event of a dispute with Mexc.
3️⃣ The Mexc site can be blocked by French ISP (Internet access providers)
Although this is not yet the case for Mexc, the AMF can ask the Internet access providers (ISP) in France (Orange, SFR, Bouygues, Free, etc.) to block access to the Mexc website .
🔹 How is the blocking done?
- The AMF must obtain a court decision to order the blocking of Mexc in France.
- Once the decision is made, French ISPs are forced to restrict access to the Mexc site via their networks.
🔹 Limits of blocking by FAI
- This type of blocking is not infallible , because users can always bypass these restrictions via VPN or alternative DNS .
- Mexc could also regularly change the domain to avoid blockages.
⚠️ Being on a blacklist does not necessarily mean that Mexc is a scam . This simply means that the platform does not meet French regulatory requirements and cannot operate legally in France .
Why is Mexc on black list in France?
The AMF registered Mexc on its black list in June 2024 because the platform does not meet the requirements imposed on service providers on digital assets (PSAN) . It operates without legal authorization in France , which makes it illegal in the eyes of the regulator .
No PSAN recording: why did Mexc not get it?
What is PSAN approval?
Since the 2019 pact , any crypto platform that wishes to offer services to French residents must obtain the PSAN registration from the AMF. This recording aims to ensure a minimum of user protection and regulatory compliance .
To be registered PSAN, a platform must comply with several requirements , in particular:
1️⃣ obligations in the fight against money laundering and the financing of terrorism (LCB-FT)
2️⃣ Total transparency on the identity of managers and effective beneficiaries of the company
3️⃣ of the requirements of securing the assets of customers
4️⃣ an obligation of communication and compliance with the French authorities
Mexc does not meet these criteria , which is why she never obtained PSAN registration.
How does Mexc not meet the PSAN requirements of France?
1️⃣ Non-compliance with the rules for whitening money (LCB-FT)
- PSAN platforms must set up strict customer verification procedures ( KYC - Know Your Customer) .
- Mexc allows users to register and trader with a limited KYC , which goes against PSAN requirements.
- The AMF also requires monitoring of suspicious transactions and reports to the authorities , which Mexc does not guarantee.
2️⃣ Lack of transparency on the identity of managers
- To obtain the PSAN recording, a platform must provide the complete identity of its managers and its effective beneficiaries .
- Mexc is based in Seychelles , a jurisdiction known for its financial opacity , and the real identity of the owners of the platform is not clear .
- The AMF refuses to record companies whose real beneficiaries are not clearly identified .
3️⃣ Lack of guarantees on the security of customer funds
- PSANs must guarantee that user funds are secure and that they are separated from the platform's equity to avoid any risk of diversion.
- There is no guarantee that Mexc respects this separation, thus increasing the risk of losses in the event of bankruptcy or hacking .
Warnings of other regulators than France towards Mexc
Mexc is not only problematic for France. Other international regulators have made warnings about it:
- Germany : The Bafin regulatory authority warned against the absence of a license in Mexc on the German market.
- Canada : The platform is considered non -compliant by certain Canadian regulators.
- Hong Kong : Warnings have been published on transparency and risks linked to Mexc .
Black list in France vs. PSAN recording: what difference?
Not all non -Psan platforms are necessarily put on blacklist
- Kraken is not recorded PSAN , but it is not a black list .
- For what ? Because they do not actively target French customers and avoid marketing campaigns in France .
Mexc was put on black list because he operated illegally in France
- A non -PSAN platform that advertises, offers a French interface and requests French customers can be placed on a blacklist.
- This is the case of Mexc, which continued to offer its services to the French without PSAN recording .
Conclusion: should MEXC in France still be used?
Summary of key points:
✅ Mexc is always accessible from France , but it is on the black list of the AMF .
❌ It is not Psan and is therefore not authorized to offer its services to the French .
❌ Users do not benefit from any legal protection in the event of a problem .
✅ Alternatives like Bitvavo, Binance , Coinbase and Crypto.com are much safer .
✅ An even more secure option is to have your cryptos in decentralized mode .
If you are looking for a regulated, simple and efficient solution , we recommend going through a PSAN exchange or opting for a crypto portfolio in complete self -management .
Investments in cryptocurrencies are risky. Crypternon could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a property or service put forward in this article. Readers must do their own research before undertaking any action and investing only within the limits of their financial capacities. Past performance does not guarantee future results. This article does not constitute an investment advice.
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AMF recommendations. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital .
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Yohan Uzzan
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
