MEXC will refer eligible French customers to Kraken as it stops serving users linked to France. Accounts do not move automatically, and trading restrictions start in November, with withdrawals closing in March 2027.
MEXC will refer eligible French customers to Kraken, repeating a transition arrangement the two exchanges previously used in the Netherlands. The move follows MEXC's October 28 notice that it would gradually stop serving users linked to France, a step it attributed to regulatory alignment.
The referral does not transfer anything on its own. According to the announcement, accounts, balances and trading positions stay behind, so French users who pick Kraken must open a separate account, complete KYC procedures and move their assets themselves.
Four groups, four wind-down dates
MEXC has split affected customers into four groups based on their account and identity verification information. The first group enters wind-down on November 18, 2026, and the others follow on December 10, December 31 and January 22, 2027.
Once an account enters wind-down mode, the customer cannot open or increase positions, make new spot purchases or deposit additional funds. Customers can still reduce or close positions, repay liabilities and withdraw assets.
Next come the closing dates. MEXC plans to close any remaining positions automatically at 00:00 on January 22, 2027, so fourth-group customers must close theirs by January 21. All affected accounts move to withdrawal-only status on January 25, and withdrawals close at 00:00 on March 5, 2027.
Kraken's licence and an earlier regulatory warning
Kraken's French crypto services come from Payward Europe Solutions Limited, which is authorised under MiCA in Ireland and listed by the AMF as permitted to serve French clients.
The French withdrawal also follows an earlier regulatory warning aimed at MEXC. The AMF added www.mexc.com to its blacklist on June 4, 2024. It included the platform in a public warning the following day about websites offering digital-asset services without the required authorisation.
Open questions remain on assets left after the deadline. MEXC says they will go to a regulated custodian, but it has not named the company or explained how customers can claim those holdings.
Source: Finance Magnates
Trading involves risk.
Risk Disclaimer
