Bitcoin futures exchange BitMEX has upset many in the Bitcoin space after succumbing to regulatory pressure and imposing KYC for its millions of users.
The biggest Bitcoin derivatives exchange which has grown massively due to its bypassing of regulations will launch its User Verification Programme on August 28.
The exchange claims it will promote a ‘more trusted and secure trading environment for all BitMEX users.’
BitMEX To Impose KYC For All Users
Derivatives exchange BitMEX has fallen to growing pressure and is set to follow Shapeshift and introduce KYC for all of its users.
With numerous jurisdictions around the world coming out with regulations for the crypto industry, the pressure has been intense as all governments look to ensure cryptocurrency exchanges fall in line with other financial platforms.
BitMEX spokesman Ben Radclyffe said all of BitMEX’s customers had to complete the new verification process by February 12, 2021. Read More