BitMEX Accelerates Mandatory ID Verification After Charges of Lax Anti-Money ...

BitMEX Accelerates Mandatory ID Verification After Charges of Lax Anti-Money ...

The exchange moved deadline for identity verification from Feb. 2021 to Nov. 2020


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After Know Your Customer debacle, BitMEX reports 100% of users are verified

Controversial crypto derivatives trading platform BitMEX says its entire user base has completed the obligatory Know Your Customer process. BitMEX has announced the completion of its user verification program, becoming one of the largest crypto trading platforms with a fully certified customer base.As part of the process to verify its entire use base, BitMEX says open positions held by unverified accounts have been closed.Back in Aug. 2020, the platform revealed plans to undertake a comprehensive user identity verification exercise. The move came amid increasing regulatory scrutiny over....

The case against BitMEX is a compass pointing towards the future of crypto re...

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BitMex denies CFTC and DoJ allegations, says trading will continue

Despite criminal charges from the DOJ and at least one arrest of its leadership, Bitmex promises to continue operating as usual. In a blog post published Thursday afternoon, Bitmex lashed out at charges that the Commodity Futures Trading Commission and Department of Justice filed against the exchange and its management earlier today.Bitmex's statement claimed that "From our early days as a start-up, we have always sought to comply with applicable U.S. laws, as those laws were understood at the time and based on available guidance."What exactly "applicable U.S. laws" are will likely be....

Bitmex Fast-Tracks KYC Program as Regulators Tighten Screws on Anti-Money Lau...

Bitmex said Wednesday that it is fast-tracking its user verification program in order to comply with regulatory requirements. Users must now be fully verified by Nov. 5, 2020 “to continue trading on the platform,” it said. In a statement, the crypto derivatives exchange stated that “unverified users will not be able to open new positions” after this date. They will also “not be able to withdraw funds from their Bitmex account without completing verification” beginning Dec. 4. The accelerated verification means Bitmex’s mandatory know-your-customer....

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