VARA Investor and Marketplace Alert - MEXC Estonia OÜ and MEXC Global LTD [commercially advertising as “MEXC”]

Key Points for Investors and Consumers:

 

• Provision of VA services without the appropriate licence: MEXC does not hold any licence to provide Virtual Asset services in/from Dubai. Any activities related to Virtual Assets advertised or conducted by this company are therefore in breach of the VARA Regulations.
• Potential Risks: Engaging with unlicensed companies that are not in compliance with VARA Regulations, associated Rulebooks, and relevant UAE legislation exposes users to significant financial risks and potential legal consequences for violating regulatory requirements, or criminal laws.
• Legal Framework: In accordance with Dubai Law No. (4) of 2022 and Cabinet Resolution No. 111/2022, all Virtual Asset service providers must be licensed to operate legally in this jurisdiction. MEXC does not meet these legal requirements and is not authorised to provide any Virtual Asset services in/ from Dubai.

 

Any promotion, advertising, or solicitation related to MEXC has not been approved by VARA, and the company is therefore not allowed to offer, promote, or market any Virtual Asset products or services in Dubai or to its residents.

VARA advises consumers and investors in Dubai to avoid engaging with MEXC for the purpose of Virtual Asset services, and to exercise caution when considering interactions with unregulated entities. Before engaging any firm, verify its status on VARA's Public Register of licensed/approved VASPs.

If you are aware of any entities engaging in any unlicensed Virtual Asset activity, please notify VARA at [email protected].

 

 

VARA is the designated authority responsible for regulating, supervising, and monitoring Virtual Asset activities in the Emirate of Dubai (excluding the Dubai International Financial Centre). VARA remains steadfast in its commitment to protect consumers and investors, and to preserve market integrity.