Phemex Restricted Countries

Phemex adheres strictly to international regulations, including Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) standards. The platform restricts access in specific jurisdictions to ensure regulatory compliance.

As outlined in Phemex's Terms of Use, "Restricted Territories" include the following regions:

• Americas: United States of America, Ontario (Canada), Québec (Canada), Alberta (Canada), Saskatchewan (Canada), Cuba, Haiti, Nicaragua & Venezuela.
• Europe: United Kingdom, Belarus, Belgium, Crimea & Russia.
• Asia: Afghanistan, China, Iran, Iraq, Lebanon, Myanmar, North Korea, Palestine, Syria & Yemen.
• Africa: Angola, Burundi, Central African Republic, Democratic Republic of the Congo, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Libya, Mali, Republic of Seychelles, Rwanda, Sierra Leone, Somalia, South Africa, South Sudan, Sudan & Zimbabwe.

For the most current information, please refer to Phemex's official Terms of Use.

‍Phemex Supported Countries

Phemex, a global cryptocurrency exchange headquartered in Singapore, provides access to users in over 150 countries. Although certain regions are restricted due to regulatory frameworks, individuals with dual citizenship or entities registered in supported jurisdictions may qualify to use the platform.

As a globally accessible exchange, it supports deposits in 117 traditional currencies, including USD, EUR, MYR, TRY, GBP, AUD, JPY and CAD. You can see if your currency is supported by visiting Phemex’s restricted countries for fiat deposit page.

‍Phemex Licenses

Phemex operates under specific regulatory frameworks in various jurisdictions to ensure compliance with international financial standards. Below is a detailed overview of Phemex's licensing and regulatory status:

1. Lithuanian Securities Commission: Regulated by this authority in Lithuania, it operates under the name Phemex Lithuania UAB under registration No.306047839.
2. Financial Crimes Enforcement Network (FinCEN): This organization oversees Phemex's operations in the US; it holds an MSB license under registration No.31000171217304.

Phemex employs advanced security measures such as multiple encryption layers, cold wallet storage, and two-factor authentication (2FA) to protect user assets and data. 

About Phemex

Phemex, established in 2019 by former Morgan Stanley executives, is a Singapore-based cryptocurrency exchange. The platform offers a comprehensive suite of services, including spot trading, derivatives with up to 100x leverage, and various earning opportunities. 

It serves over 5 million users and is known for its high-performance trading engine, capable of processing 300,000 transactions per second with order response times of less than one millisecond, ensuring a seamless trading experience. 

Bottom Line

Phemex is a secure crypto exchange offering helpful trading features and multilingual support to users in over 150 countries. Its commitment to compliance with global financial regulations, advanced security measures, and efficient trading infrastructure make it a trusted platform for millions of users. 

However, due to evolving regulations, users are encouraged to verify their eligibility and consult Phemex’s official resources for the latest information on supported and restricted regions.