4 years ago

BitMEX in Response to CFTC: We Will Continue to Operate Normally, Funds Are Safe

George Georgiev Oct 1, 2020 20:18

BitMEX issued an official statement in response to the US CFTC, saying they will fight the allegations while guaranteeing that 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.

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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George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

Tags: BitcoinBitMEXUnited States

BitMEX in Response to CFTC: We Will Continue to Operate Normally, Funds Are Safe

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