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Customers must open fresh Kraken accounts
MEXC will direct eligible customers in France to Kraken as it winds down its French service. The exchanges have used a similar referral route for customers in the Netherlands. This is not an account transfer: customers who choose Kraken must register separately, pass KYC checks and move their own assets.
Kraken's French crypto services are provided by Payward Europe Solutions Limited. The company is authorised under MiCA in Ireland and appears on the AMF's list of firms permitted to serve French clients. MEXC said its 28 October notice to gradually stop serving users connected to France was driven by regulatory alignment.
Trading access changes by customer group
MEXC has sorted affected accounts into four cohorts using account details and identity verification data. Restrictions apply from each cohort's start date. Customers can reduce or close existing positions, settle liabilities and withdraw assets, but cannot add to positions, buy spot crypto or deposit more funds.
MEXC will close any positions still open at 00:00 on 22 January 2027. That is also the start of restrictions for the fourth cohort, which must exit positions by 21 January to avoid automatic closure. All affected accounts become withdrawal-only on 25 January.
Withdrawals through MEXC end at 00:00 on 5 March 2027. As Finance Magnates reported, MEXC had earlier stopped serving customers in the Netherlands and suggested regulated options including Kraken and Bybit EU. Those customers also had to create new accounts rather than transfer their MEXC accounts.
Dates governing account restrictions
| Date | Event |
|---|---|
| 18 November 2026 | First cohort enters wind-down. |
| 10 December 2026 | Second cohort enters wind-down. |
| 31 December 2026 | Third cohort enters wind-down. |
| 21 January 2027 | Deadline for the fourth cohort to close positions. |
| 22 January 2027 | Fourth cohort's restrictions begin; MEXC closes remaining positions at 00:00. |
| 25 January 2027 | All affected accounts become withdrawal-only. |
| 5 March 2027, 00:00 | Withdrawals through MEXC end. |
What to watch next
The French exit follows an AMF action in 2024: www.mexc.com was added to its blacklist on 4 June, with a public warning issued the next day about digital-asset services offered without the necessary authorisation. MEXC says assets still held after the French withdrawal deadline will be placed with a regulated custodian, but has not named the firm or set out how customers can recover those assets.
For operations teams, the key distinction is that this referral leaves account creation and asset movement with each customer. MEXC has not described a transfer or reconciliation process for France. Before the deadlines, teams handling affected accounts should establish how open positions and liabilities will be managed, what customers need to do to verify withdrawals, and how any assets left with the unnamed custodian can later be claimed.
