-
Bitcoin
$90,559.90
2.68% -
Ethereum
$3,150.00
3.71% -
Tether USDt
$1.00
0.03% -
Solana
$214.89
3.21% -
BNB
$626.70
3.48% -
XRP
$1.15
31.87% -
Dogecoin
$0.3658
2.50% -
USDC
$0.9998
-0.02% -
Cardano
$0.7948
23.51% -
TRON
$0.2000
7.90% -
Toncoin
$5.69
6.64% -
Shiba Inu
$0.0...02439
4.51% -
Avalanche
$35.22
11.57% -
Sui
$3.67
10.13% -
Bitcoin Cash
$460.86
10.14% -
Chainlink
$14.27
7.77% -
Pepe
$0.0...02112
3.88% -
Polkadot
$5.52
12.86% -
NEAR Protocol
$5.92
10.64% -
UNUS SED LEO
$7.66
3.28% -
Litecoin
$90.73
9.13% -
Aptos
$12.14
6.16% -
Stellar
$0.1822
32.70% -
Uniswap
$8.97
12.19% -
Dai
$0.9998
0.01% -
Internet Computer
$9.19
13.44% -
Cronos
$0.1609
0.36% -
Ethereum Classic
$27.20
22.01% -
Bittensor
$516.22
3.87% -
dogwifhat
$3.65
3.65%
Is BitMEX a formal trading platform?
Despite its self-claimed compliance measures, BitMEX remains unregulated by traditional financial authorities, offering derivative trading with high leverage under a legal structure with limited oversight.
Oct 03, 2024 at 03:05 am
Is BitMEX a Formal Trading Platform?
BitMEX Regulatory Status:
BitMEX is not regulated by any traditional financial authorities such as the Securities and Exchange Commission (SEC) or the Financial Conduct Authority (FCA). It operates under the jurisdiction of Seychelles, which does not have specific regulations for cryptocurrency exchanges.
Legal Structure and Ownership:
BitMEX is owned and operated by HDR Global Trading Limited, a company registered in the Seychelles. Its executive management team includes Arthur Hayes (CEO), Benjamin Delo (CTO), and Samuel Reed (CFO).
Compliance and Risk Management:
Despite its lack of regulatory oversight, BitMEX has implemented certain compliance measures. These include:
- Know-Your-Customer (KYC) and Anti-Money Laundering (AML) procedures.
- Use of external auditors and security consultants.
- Collaboration with law enforcement agencies.
Trading Features and Products:
BitMEX is primarily a platform for trading cryptocurrency derivative contracts. It offers:
- Perpetual futures contracts on Bitcoin, Ethereum, and other cryptocurrencies.
- Leverage of up to 100x on futures contracts.
- Spot and margin trading options.
Transparency and Auditability:
BitMEX publishes monthly transparency reports that provide details on trading volume, open interest, and financial performance. However, it does not undergo external audits by reputable accounting firms.
Legal Challenges and Controversy:
BitMEX has faced legal challenges and controversy over its compliance practices. In 2020, its co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed were charged by the U.S. Department of Justice with operating an unlicensed money transmitting business. They later pleaded guilty to violating the Bank Secrecy Act.
Conclusion:
While BitMEX claims to operate in a compliant manner, it is not a formal trading platform in the sense of being regulated by recognized financial authorities. It operates under a legal structure that provides limited oversight, but it has implemented certain compliance measures to mitigate risks. Its trading features and products cater to experienced traders who are comfortable with the associated risks of leverage and derivative contracts.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
Floki Inu (FLOKI) Market Momentum and Investor Confidence Skyrocket After Coinbase Listing
- 2024-11-16 22:25:01
-
Top 4 Crypto Wallets For Safely Managing Digital Currencies
- 2024-11-16 22:25:01
-
Ripple's XRP Token Soars Above $1 Amid Speculation of a Potential Meeting Between President-elect Donald Trump and Ripple CEO Brad Garlinghouse
- 2024-11-16 22:25:01
-
Ethereum (ETH), Toncoin (TON), and TRON (TRX) Rally as Bulls Drive Prices Higher
- 2024-11-16 22:25:01
-
ZDEX Presale: Your Gateway to Real Wealth
- 2024-11-16 22:25:01
-
The National Bank of Ukraine has issued a new commemorative coin to mark the centennial of Ukrainian Radio
- 2024-11-16 22:25:01
Related knowledge
A comprehensive introduction to the main features and functions of the Upbit exchange
Oct 05,2024 at 12:54pm
A Comprehensive Guide to the Key Features and Functions of the Upbit ExchangeUpbit, one of the leading cryptocurrency exchanges in South Korea and globally, offers a wide range of features and functions to cater to the needs of traders and investors alike. Understanding these features is crucial for maximizing your experience on the platform. Here's a c...
A comprehensive introduction to the security and advantages of the Upbit exchange
Oct 03,2024 at 12:30am
A Comprehensive Introduction to the Security and Advantages of the Upbit Exchange1. OverviewUpbit is a South Korean cryptocurrency exchange launched in 2017. It has quickly become one of the world's largest exchanges, with a daily trading volume exceeding $5 billion. Upbit offers a wide range of features and services, including spot trading, margin trad...
Is Upbit a formal trading platform?
Oct 08,2024 at 12:11pm
Is Upbit a Formal Trading Platform?1. What is Upbit?Upbit is a cryptocurrency exchange based in South Korea, operated by Dunamu Inc. Founded in 2013, it is one of the largest cryptocurrency exchanges in the world by trading volume.2. Formal Trading Platform StatusUpbit is a formal trading platform in the sense that:It is regulated: Upbit is registered a...
Things to note for newbies to the Upbit exchange
Oct 06,2024 at 01:24am
Things to Note for Newbies to the Upbit ExchangeUnderstand the Basics:Familiarize yourself with the platform's interface, trading pairs, and order types.Research different cryptocurrencies and their market dynamics.Create an Account:Provide personal information and set up two-factor authentication (2FA) for enhanced security.Verify your identity through...
Is the Upbit trading platform formal? Is it easy to use?
Oct 01,2024 at 08:48am
Is the Upbit Trading Platform Formal?Formal Registration and Licensing: Upbit is a cryptocurrency exchange formally registered with the Financial Services Commission (FSC) of South Korea. It complies with all applicable laws and regulations, ensuring its legality and credibility.Financial Stability and Security: Upbit is backed by Dunamu Inc., one of So...
What kind of exchange is Upbit? Detailed introduction
Oct 04,2024 at 06:06am
1. What is Upbit?Upbit is a cryptocurrency exchange based in South Korea, operated by Dunamu, a company under Kakao Corp. It was established in 2017 and quickly rose to become one of the largest cryptocurrency exchanges globally.2. Type of ExchangeUpbit is a centralized cryptocurrency exchange (CEX), meaning that it is a platform that holds custody of u...
A comprehensive introduction to the main features and functions of the Upbit exchange
Oct 05,2024 at 12:54pm
A Comprehensive Guide to the Key Features and Functions of the Upbit ExchangeUpbit, one of the leading cryptocurrency exchanges in South Korea and globally, offers a wide range of features and functions to cater to the needs of traders and investors alike. Understanding these features is crucial for maximizing your experience on the platform. Here's a c...
A comprehensive introduction to the security and advantages of the Upbit exchange
Oct 03,2024 at 12:30am
A Comprehensive Introduction to the Security and Advantages of the Upbit Exchange1. OverviewUpbit is a South Korean cryptocurrency exchange launched in 2017. It has quickly become one of the world's largest exchanges, with a daily trading volume exceeding $5 billion. Upbit offers a wide range of features and services, including spot trading, margin trad...
Is Upbit a formal trading platform?
Oct 08,2024 at 12:11pm
Is Upbit a Formal Trading Platform?1. What is Upbit?Upbit is a cryptocurrency exchange based in South Korea, operated by Dunamu Inc. Founded in 2013, it is one of the largest cryptocurrency exchanges in the world by trading volume.2. Formal Trading Platform StatusUpbit is a formal trading platform in the sense that:It is regulated: Upbit is registered a...
Things to note for newbies to the Upbit exchange
Oct 06,2024 at 01:24am
Things to Note for Newbies to the Upbit ExchangeUnderstand the Basics:Familiarize yourself with the platform's interface, trading pairs, and order types.Research different cryptocurrencies and their market dynamics.Create an Account:Provide personal information and set up two-factor authentication (2FA) for enhanced security.Verify your identity through...
Is the Upbit trading platform formal? Is it easy to use?
Oct 01,2024 at 08:48am
Is the Upbit Trading Platform Formal?Formal Registration and Licensing: Upbit is a cryptocurrency exchange formally registered with the Financial Services Commission (FSC) of South Korea. It complies with all applicable laws and regulations, ensuring its legality and credibility.Financial Stability and Security: Upbit is backed by Dunamu Inc., one of So...
What kind of exchange is Upbit? Detailed introduction
Oct 04,2024 at 06:06am
1. What is Upbit?Upbit is a cryptocurrency exchange based in South Korea, operated by Dunamu, a company under Kakao Corp. It was established in 2017 and quickly rose to become one of the largest cryptocurrency exchanges globally.2. Type of ExchangeUpbit is a centralized cryptocurrency exchange (CEX), meaning that it is a platform that holds custody of u...
See all articles
