BitMEX Adds Support for Ether

Cryptocurrency exchange BitMEX has added support for Ethereum, the second-largest cryptocurrency.

Users are now able to buy and convert Ether on top of Bitcoin, the largest cryptocurrency, and Tether (USDT).

BitMEX launched its fiat on-ramp service in November. It supports such payment methods as Visa and Mastercard, credit/debit cards as well as Apple Pay.

The trading platform supports a wide range of fiat currencies, including the euro and the British pound.

BitMEX says that it has been "working hard" in order to add more coins.

The crypto exchange, which ruled the roost during the 2018 bear market, has had a spectacular fall from grace after its founders were charged with failing to prevent money laundering by the U.S. government. The Commodity Futures Trading Commission concluded that it had broken the rules by allowing U.S. customers to trade cryptocurrencies.

Since then, the cryptocurrency has started prioritizing strict regulatory compliance by implementing such measures as mandatory know-your-customer (KYC) support. This, of course, has taken a toll on the popularity of the once-dominant derivatives exchange.

In August, BitMEX shelled out $100 million to settle with the CFTC.

In late February, former BitMEX CEO Arthur Hayes and co-founder Benjamin Delo pleaded guilty to one count of violating the U.S. Bank Secrecy Act (BSA), which means that they could potentially face up to five years behind bars. They both agreed to pay a $10 million fine. Prior to that, they claimed that they would fight the allegations that had been put forward by the U.S. government.