- As BitMEX, the “safe haven against KYC” goes the opposite route, it may not be bearish but expect some effects
The popular cryptocurrency derivatives exchange BitMEX that offers a leverage of up to 100x currently has no know-your-customer (KYC) requirement. But it is soon expected to change for not just large accounts but for all of its users.
The Seychelles-based crypto platform went on a hiring spree as it posted 12 new positions on LinkedIn four days ago. The company is looking to add more talent to its company for the US and Hong Kong locations that range from human resources, client development to engineers and developers.
However, two positions really stood out among these two dozen new openings.
CDD and AML
The first position that reflects towards this upcoming KYC requirement is AML Operations Manager for its Hong Kong location.
The company is looking for a candidate who will be responsible for developing and managing the complete process of conducting customer due diligence (CDD). It would apply not only to its existing clients but also the new onboarded ones that will further cover both retail and institutional clients.
The core responsibilities for this position further involves customer screening related to AML and sanctions requirements. In customer screening, the responsible person will have to manage daily volumes of client onboarding and ensure the process meets policy standards.
The candidate is required to have 5 years of experience and solid knowledge of regulatory requirements relating to CDD/AML.
Scaling BitMEX to Millions
Senior Java developer is another position for the BitMEX Trading Engines for the same company location.
The trading Engines of the platform handles all trading and brokerage and is responsible for the design and development of microservice-based electronic trading system components. The exchange states,
“We are building a best in class Technology team to help us scale BitMEX to millions of users and millions of transactions per second. We are looking for experts in low latency trading system development, microservice architectures, and scaling.”
BitMEX is looking for someone with over 5 years of financial experience and over 7 years of programming experience. The candidate will be responsible for bug fixing, new feature implementation, performance tuning, and overall architectural design of the Trading Technology stack.
It would also be “nice to have” experience with derivatives pricing, scaling, and test automation, writes the company.
It’s gonna affect the market
BitMEX went on a hiring spree after suffering from “DDoS” attacks on March 11th and 12th that led record liquidations on the exchange and crashing the price of bitcoin to $3,600 and receiving a lot of backlash from the community.
Just your weekly reminder that Bitmex is a horrid exchange that almost took the Bitcoin price to 0 a week ago.
— The Wolf Of All Streets (@scottmelker) March 20, 2020
“I was only looking to see if they were hiring more talent after the problem on 3/13…didnt expect this though we all knew it was coming to the masses (not just the large accounts),”
said commentator with pseudonym I am Nomad.
About this “big” news, though trader Majin doesn’t see it as necessarily bearish, he expects some effects as the exchange “became safe haven against kyc in recent years.”