Is Phemex MiCA-Regulated?
Licence status verified 2026-07-10 against the ESMA CASP register
Not MiCA-Authorized
Not MiCA-authorized. Phemex has no EU licence and is absent from the ESMA CASP register; the UK FCA and Austria’s FMA both flagged phemex.com in 2024–2025.
Status
Not MiCA-Authorized
ESMA register
Not listed
Checked
2026-07-10
Global 24h perp vol
$600M
What this means for EU users
Phemex was founded in 2019 by former Morgan Stanley executives. Its terms name no single global operator; a 2024 Ontario tribunal ruling identified Phemex Limited (British Virgin Islands) as the parent with a Singapore subsidiary, and only a Poland entity is named in the EU context. It is not in the ESMA CASP register and no EU MiCA application is public.
Several regulators have warned against the exchange itself, not just clone domains: the UK’s FCA (January 2025) and Austria’s FMA (December 2024) both name phemex.com as offering services without authorization, and Spain’s CNMV listed Phemex earlier (2021). Phemex also suffered a hot-wallet breach on January 23, 2025 and restored withdrawals within weeks, though it published no official loss figure (outside estimates ranged widely).
Timeline
- 2021-06-28CNMV (Spain) lists Phemex as unauthorized
- 2024-12-31FMA (Austria) warns against phemex.com
- 2025-01-23FCA (UK) warning; hot-wallet breach the same week
Recommended MiCA exchanges
Fully authorized venues we track daily — licence breadth, fees and EU perp access verified against the ESMA register.
Phemex MiCA FAQ
Is Phemex MiCA-authorized?+
No. Not MiCA-authorized. Phemex has no EU licence and is absent from the ESMA CASP register; the UK FCA and Austria’s FMA both flagged phemex.com in 2024–2025.
What does this mean for EU users?+
Phemex was founded in 2019 by former Morgan Stanley executives. Its terms name no single global operator; a 2024 Ontario tribunal ruling identified Phemex Limited (British Virgin Islands) as the parent with a Singapore subsidiary, and only a Poland entity is named in the EU context. It is not in the ESMA CASP register and no EU MiCA application is public.
What are MiCA-regulated alternatives to Phemex?+
Our recommended MiCA-authorized venues are Kraken, OKX, Bybit — Kraken and OKX offer EU-regulated perps today; Bybit's EU platform (bybit.eu) is spot while its MiFID application is pending. See the full MiCA table for every verified licence.
Sources
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