MEXC pulls out of four countries despite ambitious plan to rival global trading giants

Crypto exchange MEXC is withdrawing from France, marking its fourth country-level retreat since September as its new chief executive pursues an ambitious global expansion.The exchange said in an Oct. 28 notice that it would gradually discontinue services to French customers, automatically close outstanding trading positions by Jan. 22, 2027, and terminate withdrawals on March 5.The decision extends a series of market exits under CEO Vugar Usi, who is seeking to transform the platform from a cryptocurrency exchange associated with memecoin speculation into a broader trading business offering tokenized equities, commodities and prediction markets.MEXC began the latest withdrawals with the Netherlands on Sept. 29, citing regulatory developments in the European Economic Area. It subsequently announced the discontinuation of services to customers in Russia and Belarus on Oct. 20 as part of its global compliance efforts.The retreat from France is particularly significant because the country's financial regulator, Autorité des Marchés Financiers (AMF), blacklisted MEXC in June 2024 for offering financial services without the required authorization.The latest withdrawal also comes as Europ...