Monday, January 18, 2021
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BitMEX in Response to CFTC: We Will Continue to Operate Normally, Funds Are Safe

  • In a somewhat unexpected turn of events, the United States Commodities and Futures Trading Commission has pressed charges against the owner-operators of BitMEX for illegally running a cryptocurrency exchange and failing to comply with anti-money laundering regulations.
  • As CryptoPotato reported earlier today, this had an immediate impact on Bitcoin’s price, which dropped by as much as around $400 following the news.
  • Now, BitMEX has posted an official announcement with a brief comment on the case, outlining their disagreement with the government’s decision.
  • The exchange said that the decision was “heavy-handed” and that they intend to defend the allegations vigorously. Moreover, BitMEX added that from their early days as a start-up, they “have always sought to comply with the applicable U.S. laws, as those laws were understood at the time and based on available guidance.”
  • In addition, the platform has made sure that it will continue operating “entirely as normal” while guaranteeing that all funds are safe.
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  • Some members of the community had noticed that withdrawals were processed quicker than usual. To this, BitMEX clarified that “to allay any potential customer concerns, pending withdrawal requests were processed at 17:45 UTC, in line with our standard procedures.” For further withdrawals, the exchange said it will proceed as usual.
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