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MEXC is directing eligible customers in France towards Kraken as it reduces its French service, but the referral is not an account migration. Users who opt for Kraken must register separately, complete KYC and move their assets themselves. Their existing balances and positions are not transferred automatically.
MEXC set out its French withdrawal on October 28, saying regulatory alignment was behind its plan to end service to users connected with the country in stages. Kraken's crypto services in France 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 has sorted affected customers into four groups using account and identity verification information. Restrictions begin on different dates for each group.
Once an account enters wind-down, its owner cannot open or enlarge positions, buy spot crypto or deposit more funds. Existing positions may still be cut or closed, liabilities repaid and assets withdrawn.
The French move follows MEXC's earlier departure from the Netherlands, where customers were directed to regulated alternatives including Kraken and Bybit EU. Accounts were not transferred there either.
The AMF blacklisted www.mexc.com on 4 June 2024 and issued a public warning the next day about sites providing digital-asset services without the necessary authorisation. MEXC says a regulated custodian will receive French assets left after the deadline, but has not disclosed its identity or how customers can reclaim them.
Dates set the wind-down schedule
| Milestone | Date or time |
|---|---|
| Group one restrictions begin | 18 November 2026 |
| Group two restrictions begin | 10 December 2026 |
| Group three restrictions begin | 31 December 2026 |
| Group four restrictions begin | 22 January 2027 |
| Remaining positions close automatically | 00:00 on 22 January 2027 |
| All affected accounts become withdrawal-only | 25 January |
| MEXC withdrawals close | 00:00 on 5 March 2027 |
What to watch next
For operations teams, the immediate checks are which group each account belongs to and whether affected customers can manage open exposure before their cutoff. The fourth group must close positions by 21 January to avoid automatic closure at 00:00 on 22 January 2027. The transition and Dutch custody arrangements were first reported by Finance Magnates.
French customers and their service teams still need details of the post-deadline custody process. Which regulated custodian will receive residual assets, and what steps will holders need to take to claim them? MEXC has not yet provided those details.
