Crypto Exchange BitMEX Under CFTC Investigation Over US Users: Bloomberg

Benjamin Vitáris
The U.S. Commodity Futures Trading Commission (CFTC) is reportedly probing crypto exchange giant BitMex. | Source: YouTube/BitMEX

The US Commodity Futures Trading Commission (CTFC) has launched an investigation against the cryptocurrency exchange BitMEX, Bloomberg reported today.

Probe on US customers

According to Bloomberg, BitMEX is not registered in the United States, and the CFTC is probing whether the Seychelles-based crypto exchange has broken the rules by giving access to US users to trade on its platform.

As the regulator considers cryptocurrencies like Bitcoin as commodities and the CFTC has jurisdiction over futures and derivatives based on them, crypto exchanges have to comply with the country’s regulation to allow US customers to trade on their platforms.

According to Bloomberg, the CFTC’s probe is currently in progress with the regulator’s complete investigations often lacking allegations of misconduct.

“HDR Global Trading Limited, owner of BitMEX, as a matter of company policy, does not comment on any media reports about inquiries or investigations by government agencies or regulators and we have no comment on this report,” a BitMEX spokeswoman said to Bloomberg.

BitMEX barring US customers amid regulatory scrutiny

CCN reported in January that BitMEX had initiated the close-down of exchange accounts of customers from the United States and the Canadian province of Quebec.

Read the full story on CCN.com.