{"id":390475,"date":"2019-07-19T22:00:16","date_gmt":"2019-07-19T22:00:16","guid":{"rendered":"https:\/\/wncen.com\/?p=390475"},"modified":"2024-06-11T13:45:40","modified_gmt":"2024-06-11T13:45:40","slug":"bitmex-may-be-the-first-target-of-the-u-s-which-crypto-platform-is-next","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitmex-may-be-the-first-target-of-the-u-s-which-crypto-platform-is-next\/","title":{"rendered":"BitMEX May Be the First Target of the U.S.; Which Crypto Platform is Next?"},"content":{"rendered":"

The crypto industry was taken aback earlier today when news broke regarding popular leveraged crypto trading exchange, BitMEX, being investigated by regulatory authorities in the United States.<\/p>\n

Importantly, news regarding this investigation came about shortly after top officials within the US government criticized the nascent crypto markets, with the Treasury Secretary warning that they would be implementing and enforcing \u201cvery strong\u201d regulations in the near-future.<\/p>\n

Crypto Trading Platform BitMEX Under Instigation by CFTC<\/strong>\u00a0<\/strong><\/h2>\n

Earlier today, news broke that BitMEX is currently being investigated by the United States Commodity and Futures Trading Commission (CFTC) for allowing Americans to utilize the platform without having the proper licensing and registrations.<\/p>\n

The news, which was first reported by Bloomberg<\/a>, came closely on the heels of comments from top officials within the US government, who offered a less-than-positive perspective on the crypto<\/a> markets, deeming them as markets rife with crime and fraudulent activity.<\/p>\n

HDR Trading Limited, BitMEX\u2019s parent company, declined the opportunity to comment on the investigation, but BitMEX CEO, Arthur Hayes, has previously stated that the company does ban users from the US who attempt to undermine the company policy \u2013 which technically does not allow US residents to access the platform.<\/p>\n

It remains unclear as to where this investigation could lead, or as to what the consequences<\/a> could be. But prominent critic of both crypto and BitMEX, Nouriel Roubini, noted in a recent tweet that be believes the allegations set forth by the CFTC are just a \u201cfraction of the sleeze going on in BitMEX.\u201d<\/p>\n

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Crimes probed by @CFTC<\/a> are a fraction of sleaze going on in BitMEX:<\/p>\n

U.S. Regulator Probing Crypto Exchange BitMEX Over Client Trades. Trading platform known for 100x leverage futures contract. Probe comes as regulators ramp up scrutiny of crypto sectorhttps:\/\/t.co\/X0JDU5Ge46<\/a><\/p>\n

— Nouriel Roubini (@Nouriel) July 19, 2019<\/a><\/p><\/blockquote>\n