Cryptocurrency exchange, BitMEX, announced that it has added three new countries to its trade restriction list. BitMEX To Block Users From Three Countries.
HDR Global Trading Limited (HDR), BitMEX’s parent company said that Seychelles, Hong Kong, and Bermuda will be added to the list of jurisdictions already restricted from access to BitMEX.
For regulatory reasons, BitMEX added geo-blocks stating:
“The increased involvement of regulators with all the major players in the industry is not only to be expected, but it is also to be welcomed. Also, it is the mission of good regulators to ensure that honest citizens are not being cheated. .For this reason, we have decided to restrict access to BitMEX for users in the jurisdictions in which HDR-affiliated employees and offices are located.”
The three jurisdictions are added to a list that includes the following:
- The US
- The province of Québec in Canada
- Crimea ~(Sevastopol)
- North Korea
BitMEX To Block Users From Three Countries. The company claimed that this change will have no financial impact on the business and will affect very few people. The BitMEX team will be reaching out to those who are affected.
Also, BitMEX announced that it is conducting an autonomous insurance fund audit designed to mitigate an unexpected market crash.
Last month, Bloomberg disclosed that the CFTC is investigating the exchange on whether US citizens traded on the exchange, despite claiming that it did not serve them.