BitMEX Updates Its List of Restricted Jurisdictions Adding Seychelles, Hong Kong, and Bermuda

BitMEX, the world's largest crypto derivatives exchange, has decided to bar people resident in "the jurisdictions in which HDR-affiliated employees and offices are located" from accessing BitMEX.

BitMEX explains that it has been working with regulators to help shape the industry, creating the standards that will help it go mainstream and that it welcomes the increased involvement of regulators with all the major players in the industry.

According to the blog post published today, for the reason, we have decided to restrict access to BitMEX for users in the jurisdictions in which HDR-affiliated employees and offices are located. Seychelles, Hong Kong and Bermuda will be added to the list of jurisdictions already restricted from access to BitMEX. This change will have no financial impact on the business and will affect very few people.

Image credit: pixabay

The BitMEX platform is entering a new and exciting era. This conservative action is not taken reactively, but proactively. We want to ensure we lead the industry not just in innovation but also in standards.
We are extending the transparency of our systems so that our customers and stakeholders can better understand how BitMEX operates.
We are showing third-parties why we believe BitMEX is a safe place to trade; how our innovative contracts are structured; why we keep an Insurance Fund; how auto-deleveraging is orderly and fair; how we know all accounts are 100% backed; and why we believe BitMEX has one of the safest custody solutions in the world.
We are working on independent audits of our Insurance Fund, market making activities, and tradeable contract structure and we hope to share the results of these processes in the near future.

Source: https://blog.bitmex.com/ensuring-the-continued-compliance-of-the-bitmex-platform-19-august-2019/

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