In oneto the blog post took place this Thursday (October 1st) in the afternoon, Bitmex responded to charges brought against the exchange and its management by the Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) today.
Bitmex’s statement says so “Since our founding as a start-up, we have always tried to comply with applicable US laws, as they were understood at the time and are based on the guidelines available.”
What exactly “the applicable laws of the United States” are is likely to be central to the case. However, Bitmex has long claimed that it does not serve customers in the United States Others before the CFTC and the DOJ have argued that this is a lie. The CFTC case is based on the fact that Bitmex has not registered with the Commission as a derivatives exchange in the US.
The DOJ argues against this that Bitmex has deliberately not implemented know-your-customer (KYC) and anti-money laundering programs, which violates the Banking Secrecy Act. Both agencies claim Bitmex has received warnings for years that its operations are illegal.
Bitmex reassured users of this in its post denying the fees Trading continues as usual. This is despite the fact that The Justice Department arrested one of Bitmex’s founders, Samuel Reed, today.
Check out Cointelegraph’s live feed on the Bitmex case tonight starting at 5:00 p.m. EST / 9:00 p.m. UTC.