MEXC to Offboard Dutch Users, Recommends Bybit as MiCAR-Compliant Alternative
MEXC will stop serving Dutch customers on 16 November and recommends MiCAR-authorised Bybit EU as a replacement, though users must move their own assets.
MEXC has announced it will end services for customers in the Netherlands on 16 November 2026, recommending Bybit EU as its preferred MiCA-compliant destination.
The offboarding is not an automatic account transfer. Dutch users who want to continue trading will need to register separately with Bybit EU, complete identity checks and transfer their crypto assets themselves, MEXC said. The exchange said it will contact affected customers with instructions and timelines.
"Partnering with Bybit represents an important step in ensuring a secure, compliant, and seamless transition for our users," said Robert MacDonald, MEXC's Chief Compliance Officer, citing Bybit's regulatory framework and user protections.
Why MEXC is leaving
MEXC does not appear in the latest ESMA register of authorised crypto-asset service providers, meaning it lacks the MiCA authorisation needed to serve EEA clients after the transition period. A MiCA licence obtained in one EU member state can be passported across the EEA. Bybit EU's approved services include custody, crypto-to-fiat and crypto-to-crypto exchange, placing crypto-assets and transfer services.
ESMA has outlined two paths for clients of unauthorised firms: move assets to an authorised CASP where one is identified, or send them to a self-hosted wallet. MEXC's referral follows the first route.
The arrangement currently applies only to Dutch customers. Bybit EU has held a CASP authorisation from Austria's Financial Market Authority since May 2025. The global Bybit platform is restricting access in Europe, while the separately authorised Bybit EU entity continues serving the region through newly opened accounts.
The move provides a named destination in an otherwise fragmented migration. Other licensed exchanges have reported benefiting from rivals' exits without formal referral agreements; in August, OKX Europe CEO Erald Ghoos said inflows from Binance-linked accounts had risen more than eightfold, although no independent market-wide breakdown was available.
MEXC is also offering incentives to encourage Dutch users to act before the recommended 31 October asset-movement date. Eligible new Bybit EU customers can receive €30 in Bitcoin after depositing at least €100 within seven days, a seven-day VIP 1 trial with preferential fees, and a Bybit Card package valued at up to €120.
MEXC's final offboarding date for customers in the Netherlands is 16 November 2026.
Source: Finance Magnates