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Bitmex Labeled Illegal

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Suba

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Bitmex Illegal.jpg

On October 1, 2020, the CFTC (Commodity Futures Trading Commission), USA, branded Bitmex as an illegal crypto asset futures trading platform. This derivative-type exchange Bitmex (non-spot market), was declared an illegal company and violated a number of CFTC provisions, including disobeying KYC and violating money laundering regulations.

Less than 24 hours after the CFTC announcement on October 2, 2020, a number of Bitmex users started withdrawing their deposits totaling 6,656 Bitcoin, and have now reached a withdrawal of 48.5 thousand BTC.

The founder of Bitmex, namely Arthur Hayes and a number of his partners, Ben Delo and Samuel Reed are the defendants by the CFTC. Bitmex has also issued a statement rejecting the CFTC's allegations because it has complied with applicable regulations.
 
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mikenova22

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I have for long not understood why people choose Bitmex.. as far as I understand you can only use crypto to leverage, so if you are shorting Bitcoin for example you can only short with Bitcoin. But you are still losing a bit of money because Bitcoin is dropping in price.

The better way if you want to short is to do it with USDT or FIAT since then you don't lose any money from the crypto dropping in price, only gains. I recommend Binance but Bybit is also good since they offer a lot of bonuses for doing stuff like following them on social media etc.
 

hani20980

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Hello that's really very bad i thought Bitmax is a safe and a famous exchange with this news it seem that most of investors will withdraw theire money
 
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