German regulatory agency: MEXC trading platform has been providing financial services to users without authorization.

According to BlockBeats news on October 19th, the German regulatory agency Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers that MEXC trading platform has been providing financial services without authorization. BaFin stated that MEXC's cryptocurrency custody services require authorization from BaFin. The regulatory agency stated on its website that "only companies that have obtained the necessary authorization from BaFin to provide these services can provide financial services in Germany."