BitMEX forced to close US and Quebec-based accounts

Posted 15 January, 2019

Cryptocurrency exchange BitMEX (Bitcoin Mercantile Exchange) announced the closure of the accounts run by users from the USA and Canada’s Quebec.

According to the media, the exchange was urged to close customers’ accounts owing to stronger regulators’ fight against unlicensed cryptocurrency platforms. In early 2018, Quebec’s financial regulator Autorité des marchés financiers (AMF) sent the notice to the BitMEX team saying that the exchange must stop providing services to local clients due to a lack of the required registration and license. All accounts of the users in this province will be deactivated immediately, as the reports read.

As commented the representative of the authority, the exchange was informed that BitMex runs an illegal business in Quebec.

Speaking about the USA, neither the US Securities and Exchange Commission (SEC) nor BitMEX spokespersons commented on this issue so far. However, it seems that the reason for the business cut is similar to that observed in Quebec. Specifically, the US regulator is expanding and tightening the measures against crypto exchanges and individuals dealing with digital coins. Still, there is no information whether the platform is registered in the USA or not.

For reference, the total trading at BitMEX was at $965 billion last year, as the company data showed.

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