20/08/19 06:15 UTC-4

BitMex crypto exchange banned residents of three more countries

ExchangesBitMex restricts trading because of regulators
BitMex restricts trading because of regulators

The BitMex cryptocurrency exchange restricted access to its tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
platform for citizens of three countries. These include Bermuda, Seychelles, and Hong Kong. The decision will not "affect the business" and will "affect very few people", the company believes.


BitMex crypto exchange restricts access because of regulators

According to BitMex, the regulatory environment has "dramatically changed" during the existence of cryptocurrencies. However, it is quite "expected" because the goal of the authorities is to ensure the security of "honest citizens."

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All major players, including BitMex, are striving for it. Therefore, the crypto exchange has banned the residents of three more countries - Bermuda, Seychelles, and Hong Kong - from trading on its site. Before that, citizens of the United States, the Canadian province of Quebec, Cuba, Crimea and Sevastopol, Syria, North Korea, and Sudan got banned.

"This change will not have a financial impact on businesses and will affect very few people", the crypto exchange said in a press release.

  • In July 2019, Bloomberg announced that the US Commodity Futures Trading Commission (CFTC) has opened an investigation against BitMex.
  • The regulator allegedly tried to find out whether North American traders were trading on the stock exchange, as BitMex was not licensed by the CFTC.
  • BitMex specializes in cryptocurrency futures trading. According to the company, the daily trading volume on the site reaches $2.94 billion.
  • BitMex blocks users by determining their IP address. It is easy to cope with such blocking using VPN or Tor.

Editor: Alyona Nabok

See also: "A new Japanese cryptocurrency exchange was launched"

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