CoinEx

CoinEx Exchange

CoinEx is a centralized cryptocurrency exchange founded in December 2017, known for its wide range of listed cryptocurrencies and a commitment to global expansion and regulatory compliance. It serves over 10 million registered users across more than 200 countries and regions.

Key Features:

• Extensive Asset Support: Offers a very broad selection of cryptocurrencies, with over 1,400 listed assets and 1,800+ trading markets, appealing to altcoin enthusiasts.
• Diverse Trading Products: Provides a comprehensive suite of trading options including spot trading, futures, margin trading (up to 5x leverage), copy trading, automated market makers (AMMs), staking, crypto loans, and auto-invest plans.
• Security Measures: Employs a multi-layered security approach, including cold/hot wallet management (majority in cold storage), multi-signature protocols, real-time monitoring, and a CoinEx Shield Fund (10% of trading fees allocated to protect users). It also claims a 100% reserve ratio verified via Merkle Tree.
• Optional KYC: CoinEx allows users to access trading features without mandatory KYC verification, offering higher daily withdrawal limits (up to $1,000,000) for those who complete KYC.
• User-Friendly Interface: Known for its intuitive design and mobile app support, catering to both beginners and active traders.
• Native Token (CET): Has its own platform token, CoinEx Token (CET), which offers discounts on trading fees and other privileges within its ecosystem.
• Global Accessibility: Supports 18 languages, aiming for accessibility across a diverse user base, though it does not provide services to residents or citizens of the United States, Canada (Alberta, Quebec), Hong Kong SAR, and mainland China due to regulatory restrictions.

Regulatory Context & Challenges:

• Active Compliance Efforts: CoinEx emphasizes its commitment to global compliance, actively applying for relevant licenses in multiple countries and working with regulators. It obtained an MSB license in the US (though services are not offered in the US).
• Past Legal Scrutiny: CoinEx has faced legal action, notably being sued by the New York Attorney General in February 2023 for allegedly operating illegally and selling unregistered digital assets in the state. CoinEx publicly stated it was taking active steps to address these concerns and cooperate with investigations. Quebec also sanctioned CoinEx and its founder in 2024 for operating without proper registration.
• AML/KYC Policy: CoinEx has a clear AML/KYC policy, stating its purpose is to prevent illegal activities and that it adheres to relevant laws, regulations, and regulatory requirements. It uses advanced AML software and transaction monitoring systems.

Summary:

CoinEx is an active and globally expanding centralized cryptocurrency exchange that offers a vast selection of digital assets and a wide array of trading and earning features. It places a significant emphasis on security, including proof of reserves, and provides optional KYC for user flexibility. While CoinEx is actively pursuing global regulatory compliance, it has faced past legal challenges (e.g., in New York and Quebec) regarding its registration and operations in specific jurisdictions. Despite these hurdles, it remains a popular choice for users seeking diverse altcoin options and flexible KYC policies, though users from restricted regions should be aware of limitations.