U.S. Commodities Watchdog Investigates Crypto Exchange BitMEX
United States watchdog the Commodity Futures Trading Commission (CFTC) has allegedly launched an investigation of crypto exchange BitMEX activity in the country, Bloomberg’s reporter wrote on Friday, July 18.
According to Tim Culpan, tech columnist for Bloomberg Opinion Asia, the CFTC wants to find out whether the U.S. customers are trading on a Seychelles-registered platform. As of press time, the details of the investigation were not disclosed.
Trading on crypto derivatives platform BitMEX has been unavailable to the U.S. traders due to legal restrictions. However, local users might have used VPN to trade on the platform.
Earlier in July, renowned crypto skeptic Nouriel Roubini slammed BitMEX for violating the U.S. law. In his report called “The Great Crypto Heist” he also claimed that the crypto exchange was involved in money laundering and terrorism financing.
Also in July, President Donald Trump criticized cryptocurrencies, including Facebook’s much anticipated Libra, in a series of tweets. He claimed that digital currencies are based on “thin air” and can facilitate unlawful behavior.
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