CFTC rumoured to launch investigation into BitMEX

Posted 19 July, 2019

The US Commodity Futures Trading Commission is rumoured to launch a review of the cryptocurrency exchange BitMEX that deals with derivates. The reported were made by Bloomberg citing sources in the know.

The rumours say that the authority is striving to clarify whether the platform violates American law in terms of providing trading services to US residents. It was mentioned that the investigation can take months.

This March, the platform revised its policy and excluded the US market from the list of supported business destinations. Along with the American residents, trading on BitMEX is closed for those in Quebec and other regions. The company took this move to comply to the effective law.

However, Arthur Hayes stated the company banned users that violate the US rules, though it was still possible that some of traders could use VPN services to hide their real location.

Notably, neither CFTC nor BitMEX have confirmed the fact of investigation yet.

Besides, the exchange has faced offensive statemetns from Nouriel Roubini, followign hot discussions between Roubini and Hayes at the summt in Taipei. That time, the former said that BitMEX applies price manipulation practicies. In particular, Nourile Roubinin also claimed that the platform got the bulk of the profit from liquidiation of the positions.

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22 July, 2019 11:16

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