It was recently revealed that the US Commodity Futures and Trade Commission was beginning a month long investigation of the BitMEX crypto exchange over its high leverage Bitcoin trading options and the legality of allowing US citizens to access the platform.
Bitcoin Trading Down on BitMEX
Bloomberg originally broke the story that the US exchange would be coming under scrutiny from regulators. NewsBTC covered the events yesterday which appear to be linked to comments from senators regarding the crypto industry at two hearings last week on Facebook's Libra project.
The month long probe will investigate the legality of operations on the platform that was not registered with the regulatory body before allowing Americans to trade. The CFTC currently considers crypto assets such as Bitcoin to be commodities and intends to regulate them as such. Read More at NewsBTC...