The most popular Bitcoin margin trading exchange, BitMex, is reportedly under investigation by the United States Commodities and Futures Trading Commission (CFTC) for allowing US-based traders to use its platform. 

Trouble For BitMex?

According to Bloomberg columnist Tim Culpan, the CFTC is launching an investigation against popular Bitcoin margin trading exchange BitMex. The probe is related to the latter’s allowing US-based traders to operate on its platform. Supposedly, the probe is going to last months.

Interestingly enough, the reported move by the CFTC comes shortly after a heated debate between BitMex CEO Arthur Hayes and popular no-coiner Nouriel “Dr. Doom” Roubini. 

BitMex and US-Based Traders: Where Things Stand Now

According to BitMex’s terms and conditions, US-based traders are not allowed to use it at all. 

You are not allowed to access or use the Services or the Trading Platform if you are located, incorporated or otherwise established in, or a citizen or resident of: (i) the United States of America.

However, as CryptoPotato reported back in November 2018, the Hong Kong-based exchange started shutting down accounts originating in the US. Hence, it’s questionable whether the reported investigation will yield anything.

Meanwhile, a BitMex spokeswoman commented:

HDR Global Trading Limited, owner of BitMEX, as a matter of company policy, does not comment on any media reports about inquiries or investigations by government agencies or regulators and we have no comment on this report.

The post Coincidence? CFTC Probes BitMEX Following the Roubini Debate appeared first on CryptoPotato.

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