0
📰 News
401 views

Unconfirmed: CFTC Is Investigating BitMEX Crypto Exchange for Letting US Clients Trade

  • Yuri Molchan
    📰 News

    A Bloomberg columnist reports that the CFTC regulator has set up an investigation against BitMEX for letting US residents trade on the venue


Unconfirmed: CFTC Is Investigating BitMEX Crypto Exchange for Letting US Clients Trade
Contents

A Bloomberg columnist reports on Twitter that as per the data that has fallen in his hands, the US watchdog dealing with commodities and futures markets (CFTC) is scrutinizing the Seychelles-headquartered BitMEX crypto exchange for allowing American customers to trade on its markets.

A Chinese whispers investigation

As per the law that is currently in affect, US is on the list of the countries whose residents are banned from doing trading on the BitMEX platform. However, it is believed that many users (as it usually happens) have found a way round this prohibition using VPNs. Similar practice is very much popular in China these days to avoid the governmental crypto ban.

Neither BitMEX or the CFTC have confirmed the information about the current investigation but the author from Bloomberg, Tim Culpan, says the info is valid.

👉MUST READ

World-Famous Writer Neal Stephenson Denies Inventing Bitcoin, Says He Is not Satoshi

World-Famous Writer Neal Stephenson Denies Inventing Bitcoin, Says He Is not Satoshi

Dr Doom throws accusations at BitMEX

The news comes a short while after the prominent Bitcoin hater Nouriel Roubini (otherwise known as ‘Dr Doom’) has accused BitMEX along with a bunch of other digital asset exchanges on profiting from illegal crypto trading and basically – from money laundering conducted by terrorists from Russia, Iran and other countries on a regular basis.

Dr Doom also criticized the recent trend of margin trading that is becoming very popular on crypto exchanges. In particular, Binance has introduced it recently.

Cover image via u.today
Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings