BitMEX, an important trading platform for crypto-derivatives, in a recent media release said there were inaccuracies in the report which claimed that the exchange closed US and Québec residents’ accounts because of the regulations crack down
In detail comments, BitMEX stated that the report released on January 15 by the Hong Kong-based English-language newspaper South China Morning Post (SCMP) contained six major bugs.
SCMP had reported that BitMEX would switch to bar traders in Québec, Canada, after the local financial regulator, the Autorité des marchés financiers (AMF), issued a letter in early 2018 stating that no registration was taking place in the province and stating its Activities have been declared illegal there
The AMF told SCMP that all Quebecois BitMEX accounts were later closed.
SCMP had further alleged that BitMEX had increased the restrictions on US accounts in light of the increasing regulatory efforts of the country’s Securities and Exchange Commission. The report claimed that while Asia accounted for the lion’s share of BitMEX’s trading volume, the US had been its other major market, according to unnamed insider sources.