Bitcoin Trading Platform BitMEX Adds 3 New Jurisdictions to its Restricted to Access List

    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,”

    wrote BitMEX.

    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.”

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    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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