In response to new regulatory measures in Turkey, the MEXC cryptocurrency exchange has faced considerable access restrictions. The Turkish government has been implementing stricter regulations on cryptocurrency exchanges, resulting in the removal of Turkish language support across numerous global platforms. Following a recent directive from the Capital Markets Board (SPK), certain exchanges are now blocked from operations within the country.
What Led to MEXC’s Access Block?
On December 11, the SPK enforced a ban on the MEXC website. While some users are navigating this restriction using VPNs or alternative internet service providers, the ban is likely to extend to all local operators. Interestingly, residents of Turkish Cyprus reportedly still have uninterrupted access to the platform.
How is MEXC Responding to the Situation?
An official statement from MEXC’s Turkish account attributed the access issues to “technical reasons.” The announcement reassured users that their assets remain secure and encouraged transactions through the MEXC app.
- The SPK’s new rules necessitate licenses for cryptocurrency firms.
- MEXC is notably absent from the approved exchanges list.
- Other platforms, such as Binance, have successfully secured their operational licenses.
- There are calls for MEXC to clarify its steps toward compliance with local regulations.
The restrictions faced by MEXC highlight the increasingly stringent regulatory environment in Turkey. Moves like these are indicative of the challenges cryptocurrency exchanges encounter as governments seek to impose clearer frameworks for digital assets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
