Hong Kong Cracks Down on Unlicensed Crypto Exchanges MEXC and Bybit

• Hong Kong regulator says crypto exchange MEXC was operating without a license • MEXC had previously fallen foul of regulators in Japan and Germany for the same issue • This is Hong Kong's second consumer alert against a crypto exchange this week after calling out Bybit • Hong Kong started requiring crypto firms to be licensed to operate as of June 1, 2022 • The regulator warns it will take enforcement action against unlicensed crypto platforms