Blockchain & AI
BITMEX BEING INVESTIGATED BY US REGULATOR?
Reports suggest the United States Commodity Futures Trading Commission (CFTC) is investigating crypto derivatives platform BitMEX.
In a 19th July Bloomberg report, sources close to the matter say the CFTC is trying to confirm it’s suspicions that US residents are using the Seychelles-registered platform illegally.
Though it is extremely popular, especially in Asia, in order to comply with current US law, BitMEX says it blocks US users – but obviously it’s quite simple to get around geo-blocking using VPN services.
BitMEX is no stranger to controversy, with CEO Arthur Hayes being an outspoken critic of the traditional financial system and politicians. During a recent interview with Taiwanese news network BlockTempo TV, at the Asia Blockchain Summit (ABS), he went as far as saying Facebook’s Libra could make central and commercial banks irrelevant (read more).
This month the well-known Bitcoin detractor Nouriel Roubini has also been doing his best to sink BitMEX – which he calls a “shady rekting racket” run by a “thug”. Following a heated exchange with Hayes at the start of the month, Roubini has published what he says is evidence proving malpractice at BitMEX.
So far there has been no official conformation by BitMEX or the CFTC.
AYO.NEWS
Of course, its not our place to comment on any investigation, but you could be forgiven for thinking there was a crusade against firms like BitMEX in some quarters. How much of it is driven by genuine concerns for the safety of investors and traders, and how much is driven by Trump-style ideology and ignorance is anyone’s guess.
AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.
