US Regulator Investigating Crypto Exchange BitMEX July 19, 2019 July 19, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 19, 2019 by Kelly Cromley

US Regulator Investigating Crypto Exchange BitMEX

The US Commodity Futures Trading Commission (CFTC) is allegedly investigating the formidable derivatives firm BitMEX. The investigation, as per Bloomberg reports quoting individuals acquainted with the issue, is based on the allegation that BitMEX permitted permitted US citizens to use its website to trade.

Under present legislation, the US bars its citizens from using the trading platform offered by the Seychelles-registered BitMEX and comparable crypto-based financial facilities, but consumers may have tried to bypass the geoblock utilizing facilities such as VPNs.

The probe, which is yet to be officially acknowledged by either BitMEX or the CFTC, was disclosed on social media through Tim Culpan, a reporter from Bloomberg.

Bitcoin (BTC) came under selling pressure following the new release, plunging by roughly $500 to $10,000 in a matter of few minutes.

After a clash previously in July between CEO Arthur Hayes and Bitcoin pessimist Nouriel Roubini, BitMEX stays in the headlines this week. Roubini verbally attacked Hayes for postponing the launch of the clip portraying the whole discussion, following the purported Tangle in Taipei.

In the meantime, Roubini raised the odds on Wednesday, releasing what he believes to be undeniable proof of BitMEX’ malpractice while criticizing Hayes and his trading platform publicly. Roubini explained his study as “my fresh journal in which I reveal the secret rekting racket operated by the gangster (Hayes): AML / KYC evasion, front-running, insider trading, huge money laundering, client gouging, etc.”

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.