MEXC to Offboard Dutch Users, Recommends Bybit as MiCAR-Compliant Alternative
MEXC recommends Bybit before terminating services in the Netherlands.
1MEXC's Exit from the Netherlands
MEXC announced it will offboard Dutch users by November 16, 2026, due to non-compliance with MiCAR regulations. Users must transfer their assets to Bybit. The transition won't be automatic; users need to open new accounts on Bybit and complete identity verification. MEXC will provide instructions to users regarding the process.
2Bybit's European Presence
Bybit obtained CASP authorization from Austria's Financial Market Authority in May 2025, gaining the right to operate in the EU market. While access to its global platform is restricted, a separate entity called Bybit EU will continue serving the region. Bybit offers crypto-fiat and crypto-crypto transactions, custody, and transfer services.
3Impact of MiCAR
The EU's Markets in Crypto-Assets Regulation (MiCAR) came into force in 2024 and will be fully implemented by 2026. The regulation mandates the authorization of crypto asset service providers. MEXC, not appearing on ESMA's list of authorized providers, had to withdraw from the Netherlands. A MiCAR license is valid across all EU countries.
4Options for Users
ESMA identified two main paths for customers of unauthorized providers: transferring assets to an authorized CASP or moving them to a self-custody wallet. MEXC officially recommended Bybit, choosing the first option. However, users must transfer their assets by October 31, 2026.
5Other Market Transitions
Other licensed exchanges are also attracting users leaving platforms due to regulations. OKX Europe CEO Erald Ghoos revealed in August that inflows from Binance-linked accounts increased eightfold. However, platforms without formal referral agreements like MEXC don't recommend specific alternatives to their users.
6Bybit's Incentive Package
Bybit offers various incentives for users transitioning from MEXC. New users will receive €30 worth of Bitcoin after depositing at least €100 within 7 days. Additionally, a 7-day VIP 1 trial and a Bybit Card package worth €120 are offered. These incentives aim to facilitate user migration to the platform.
7Regulatory Wave in Crypto Markets
The EU's MiCAR regulations mark a significant turning point in the global crypto market. The regulations aim to enhance user protections and ensure market stability. However, this process has led many global exchanges to exit the EU market or alter their business models. MiCAR could serve as a model for other regions.
8Critical Dates for Users
There are two important dates for Dutch MEXC users: October 31, 2026, is the deadline for transferring assets to Bybit; November 16, 2026, is when MEXC will completely terminate services in the Netherlands. Users must not miss these dates and should complete the process on time. Otherwise, access to their assets may be cut off.