Cryptocurrency derivatives platform BitMex is now restricting its services for three new jurisdictions including Seychelles, Hong Kong, and Bermuda, the exchange announced Monday.
In the company's blog, “Ensuring the Continued Compliance of the BitMEX Platform,” the exchange said it would affect only a small number of people.
“This change will have no financial impact on the business and will affect very few people. The BitMEX team will be reaching out to those who are affected,”
The exchange also acknowledged the increased attention the cryptocurrency landscape is getting from the regulators.
Just last week, BitMEX shut down accounts originated in the US.
Last month, the Seychelles-based exchange was probed by the US Commodity Futures Trading Commission (CFTC). The regulator investigated BitMEX related to whether the exchange has allowed US traders to use its platform.
However, it has been said that time that it may not lead to misconduct allegations.
Now, just under a month, the news of new restricted jurisdictions BitMEX came but the exchange says, it is working with regulators and the action is
“not taken reactively, but proactively.”
The latest step, the exchange says will be beneficial in the long term by allowing them to engage with regulators in
“deep, thoughtful, and productive explorations of the risks and opportunities present in the cryptocurrency market.”