BitMEX Exchange Suspends Prominent Crypto Analyst Tone Vays’ Trading Account for US Residency
Popular crypto trader and analyst Tone Vays just declared on Twitter that his BitMEX account has been suspended on the grounds of being a US Citizen.
Notwithstanding BitMEX being blocked to US customers since last year, Vays has been a supporter of it. He possibly used a VPN to access its services. However, he took to Twitter to grieve about the loss of income from 900 or so affiliates he has bought to them via his live streams, YouTube videos, and website.
He further alleges that the ban might be the result of the recent comments that he has made regarding BitMEX’s policy surrounding the upcoming BCH hard fork. He notably said earlier that unlike the original BTC-BCH hard fork, this event will have a major impact on the traders.
He points out that BitMEX’s determination to tie their futures BCHZ18 contract pricing to the BCH ABC coin is actually asking traders to bet on that code surviving any attack. He further states that anyone who shorts this can make every penny out of its loss.
Earlier BitMEX had moved away from serving US customers is because, in 2015, CFTC declared that Bitcoin options platform Coinflip would halt operations as a consequence of not designating the platform with regulatory bodies. Their terms of service states:
“Residents of the United States of America or Québec (Canada) are prohibited from holding positions or entering into contracts at BitMEX.”
To counter this Vays says that he was only in the US for only 30 days last year. Although, further the terms of services says:
“You are authorized to access and use the Website; In particular, the jurisdiction where you reside, hold citizenship, or conduct business allows you to utilize BitMEX’s services.”
This clearly shows that Vays complaints aren’t to justified.