BREAKING: BitMEX Reportedly Under Investigation by CTFC

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According to technology columnist for Bloomberg, Tim Culpan, well-known cryptocurrency exchange BitMEX is under investigation from the US Commodity Futures Trading Commission (CFTC).

According to the sources, BitMEX has breached protocol by allowing US residents to trade on its platform despite being registered in the Seychelles. As it stands, the US is not an approved country that can use BitMEX and similar crypto-based financial services.

It could be that users were using geo-blocking or VPNs to get around this block, and access the cryptocurrency trading site.

In the News

BitMEX, via its CEO Arthur Hayes, have been in the news recently as the head of the exchange went up against fammed economist, Nouriel Roubini aka “Dr. Doom. Roubini was the one who predicted the global recession that hit in 2008, but he has turned his attention to cryptocurrency in recent times.

Roubini has been vocal about his dislike of cryptocurrencies, and it led to a heated debate taking place in Taipei against BitMEX’s Hayes. The debate itself caused more controversy as Roubini accused Hayes of not releasing the full recording of their debate. 

Regulatory pressure

The details of the investigation have not been exposed as yet, however, there are ongoing regulatory investigations permeating the cryptocurrency space. 

Currently, in the US Senate, Facebook is also facing a hearing about its proposed cryptocurrency Libra project. 
 

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