MEXC's New CEO Vows to Keep Fees Low and Regulators Even Lower (Hopefully)

MEXC just got a new boss, and apparently they're taking the "move fast and break things" approach to regulatory compliance. The exchange appointed Vugar Usi as CEO on Wednesday, signaling a push for global licensing under the European Union's Markets in Crypto-Assets Regulation (MiCA) framework. Because nothing says "we're a legitimate business" quite like applying for a license after the fact.

Usi previously served as COO at rival exchange Bitget before joining MEXC as chief operating officer in late 2025. Now at the helm, he says the platform will stick to its low-fee trading roots while expanding broader multi-asset access. Apparently the plan is to keep those trading fees so low that regulators won't even notice—or at least that's the theory.

"The MiCA license application is a top strategic priority for the company," Usi told Cointelegraph, adding that MEXC is working to establish a fully compliant business entity within the EU. Translation: "We promise we're totally legitimate now, grandma."

The timing isn't exactly coincidental. Dutch authorities flagged MEXC in September 2025 for providing crypto services in the Netherlands without holding the required license, leaving the company labeled as non-compliant by European regulators. Nothing like a regulatory slap on the wrist to really motivate that compliance journey.

MEXC isn't alone in the compliance scramble. Binance, the world's largest exchange by reported volume, applied for a MiCA license in Greece back in January. The race for European regulatory approval has become increasingly competitive—apparently "too big to ban" is the new "too big to fail."

Founded in April 2018, MEXC has grown into one of the fastest-moving CEXs globally, posting reported daily trading volumes of around $2.2 billion, according to CoinGecko data. CryptoQuant recently ranked MEXC in its top three exchanges in the Exchange Leader Index, sitting alongside Binance and Gate. Turns out moving fast and skipping the paperwork still pays the bills.

The company has also locked in partnerships with blockchain security platform Hacken and collaborated closely with The Open Network (TON), which received funding from MEXC Ventures in late 2023. Because when you're dodging regulators, it's probably good to have someone watching your code.