BitMEX Mandating KYC by Feb 2021, Not Bad for Crypto Market

2020-8-15 19:26

Crypto derivatives exchange BitMEX now seems to be feeling the pressure of regulators as it announces mandatory know-your-customer (KYC) measures to “meet evolving international regulatory standards.”

Starting August 28, 2020, all BitMEX customers will be required to complete their ID checks within the next six months.

As per the User Verification Program, a user has to go through a four-step process, much like other cryptocurrency exchanges, that includes uploading a photo ID and proof of address, a selfie, and answering “a few multiple-choice questions about the source of funds and trading experience.”

With this move, the exchange says, they will be able to “create a more trusted and secure trading environment for all BitMEX users.”

Crypto trader DonAlt feels the same as he said it is “part of growing up,” and “all of the crypto will soon be KYC'd.” BitMEX also has “to do it at some point.”

It wasn’t shocking given the increased scrutiny the crypto space has been getting from regulators, who have already been probing into BitMEX for the past year.

“Whales are in all likelihood already KYCed. No reason to panic,” said trader and economist Alex Kruger. But because “Bitmex funding is flat which means longs and shorts are rather balanced. This matters in the event of unwinds.”

Moreover, this will help the industry as a whole, including the customers and new business entrants.

“I wouldn't say that's necessarily bad, just means shady stuff decreases while legit stuff (hopefully) increases,” said DonAlt.

Fellow crypto trader CryptoGainz is of similar opinion as the move by BitMEX will even the playing ground “in favor of newer exchanges building relationships with retail and offering favorable rates.”

However, the exchange has been losing its ground in the industry ever since the March sell-off as it saw its web traffic and BTC balance declining.

To soothe the sting of getting KYC’d, the exchange said it would also be launching a Trading Tournament with “sizable prizes.” Still, of course, only those that have completed verification will be eligible to compete.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0128809 (-100%)

crypto bitmex kyc announces mandatory regulators know-your-customer

crypto bitmex → Результатов: 126


BitMEX May Be the First Target of the U.S.; Which Crypto Platform is Next?

The crypto industry was taken aback earlier today when news broke regarding popular leveraged crypto trading exchange, BitMEX, being investigated by regulatory authorities in the United States. Importantly, news regarding this investigation came about shortly after top officials within the US government criticized the nascent crypto markets, with the Treasury Secretary warning that they would.

2019-7-20 01:00


Фото:

BitMEX Rents World’s Most Expensive Skyscraper, Rising Status of Crypto Exchanges

Popular crypto exchange BitMEX, widely recognized for its Bitcoin and Ethereum margin trading system, has rented out the world’s most expensive skyscraper located in Hong Kong. Experts have said that the expansion of BitMEX from Seychelles to Hong Kong demonstrates an improvement in the status of crypto exchanges as regulated financial institutions in a rapidly.

2018-8-23 15:00


Глава BitMEX Артур Хейз: Курс эфира может упасть ниже $100

Очередной прогноз от главы BitMEX Артура Хейза: он считает, что цена эфира движется к двузначным цифрам. В Crypto Trader Digest от BitMEX он назвал эфириум «шиткоином, цена которого подкреплялась ICO» — по крайней мере с начала 2017 года.

2018-8-16 18:21


CEO BitMEX считает, что биткоин-ETF может быть одобрен к концу текущего года

В недавнем интервью CNBC Артур Хейс, генеральный директор биржи BitMEX, высказал мнение, что криптовалютное сообщество может стать свидетелем одобрения биткоин-ETF к концу этого года, пишет AMB Crypto.

2018-8-3 23:26


Фото:

‘I’d Like to watch us Test $5,000’: bitmex ceo Down to business on Bitcoin Cost Rise

Arthur Hayes, CEO of crypto trading platform BitMEX, has suggested Bitcoin’s current bull run may give way to a price point of $5,000 before heading to $50,000 in 2018, CNBC reports July 19. Commentators have been scrabbling for explanations since Wednesday, July 17, when Bitcoin’s price jumped from $6700 to $7500 in under an hour.

2018-7-20 15:14


Фото:

Bitmex Co-Founder is the Youngest British Self-Made Billionaire

UK media has reported that 34-year-old Ben Delo, the co-founder of Bitmex, has become the youngest British self-made billionaire. Also Read: Japanese Regulator Responds to Reports of Overhauling Crypto Regulation Bitmex’s Ben Delo is the First British Billionaire From Crypto Industry According to The Sunday Times, Ben Delo’s college yearbook describes him as having been voted […] The post Bitmex Co-Founder is the Youngest British Self-Made Billionaire appeared first on Bitcoin News.

2018-7-5 14:20


CEO BitMEX: биткоин может вырасти до $50000 к концу года

Генеральный директор криптовалютой биржи BitMEX Артур Хэйес вновь заявил о том, что биткоин имеет все шансы на рост до $50000 к концу этого года. По его словам, дно уже нащупано, и остаётся только путь наверх.

2018-6-30 15:34


Артур Хэйес верит в биткоин по $50 000 до конца текущего года

CEO криптовалютной биржи BitMEX Артур Хэйес заявил, что биткоин «нащупал дно» и по-прежнему верит, что до конца года цена первой криптовалюты имеет все шансы подняться до $50 000. Такое мнение он высказал в пятницу в интервью телеканалу CNBC.

2018-6-30 13:45


CEO BitMEX по-прежнему верит в биткоин по $50 000 до конца 2018 года

CEO криптовалютной биржи BitMEX Артур Хэйес заявил, что биткоин «нащупал дно» и по-прежнему верит, что до конца года цена первой криптовалюты имеет все шансы подняться до $50 000. Такое мнение он высказал в пятницу в интервью телеканалу CNBC.

2018-6-30 12:25