MEXC has become one of the first major crypto exchanges to publicly direct its European users to a MiCA-compliant competitor as regulatory deadlines close in. The platform is ending services to customers in the Netherlands and has named Bybit EU as its recommended alternative for affected users. The arrangement does not involve an automated account or asset transfer. Dutch customers opting to move must independently register with Bybit EU, complete fresh identity verification procedures, and manually transfer their digital assets.
The decision stems from MEXC’s absence from the European Securities and Markets Authority register of authorised crypto asset service providers. Without MiCA authorisation, the exchange cannot legally continue offering regulated crypto services across the European Economic Area once transition periods expire. Bybit EU holds a CASP licence granted by Austria’s Financial Market Authority in May 2025, which allows it to passport services throughout the EEA. The approved scope covers custody, exchange operations, placement and transfer services.
While other authorised platforms have received influxes from exiting rivals without formal arrangements, MEXC has taken the unusual step of publicly naming a preferred destination. This demonstrates how MiCA compliance is reshaping competitive dynamics and client migration patterns across European crypto markets. Brokers and fintech firms operating in digital asset services must closely monitor these offboarding strategies as regulatory enforcement intensifies.
FXnCO Insight
Public client handovers to licensed competitors signal that MiCA enforcement is forcing strategic partnerships and formalised exit routes rather than simply driving unstructured market exits.
Source: Finance Magnates