Seychelles, Longtime Home of BitMEX, Is Bending to US Pressure on KYC

The Takeaway: Out of a list of 26 crypto exchanges domiciled in the Republic of Seychelles, approximately half have poor know-your-customer (KYC) procedures, according to blockchain tracking firm CipherTrace. Analysis of certain Seychelles-based exchanges reveals the proportion of funds flowing to and from “high risk” sources and dark marketplaces. In an interview with CoinDesk, the […]

Continue Reading

BitMEX Parent Names Höptner as New CEO

100x Group, the holding group for HDR Global Trading Limited, owner and operator of the embattled BitMEX cryptocurrency derivatives platform, named Alexander Höptner as the new chief executive officer, effective in January 2021. This story is developing and will be updated when more information is available.

Continue Reading

BitMEX Founder’s Charges Highlight Risks for DeFi

In October, the Commodity Futures Trading Commission (CFTC) and the U.S. Department of Justice (DOJ) filed enforcement actions against the entities and individuals that own and operate the Bitcoin Mercantile Exchange (BitMEX), a trading platform for cryptocurrency derivatives.  The CFTC alleges that since 2014 BitMEX has operated an unregistered trading platform and violated CFTC regulations […]

Continue Reading

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

BitMEX, which has been charged by the U.S. government and a regulator with facilitating unregistered trading, has accelerated its mandate for all customers to verify their identities by Nov. 5, three months earlier than its original deadline of early February. Stronger identity verification requirements is an industry trend, said Ben Radclyffe, commercial director of the […]

Continue Reading