BitMEX, the Arthur Hayes-led cryptocurrency exchange, has fallen under the lens of U.S. regulators for allowing trading to U.S. clients, reports Bloomberg’s Tim Culpan. BitMEX is one of the largest margin trading exchanges in the world and provides the most trading volume for Bitcoin. The news comes days after economist Nouriel Roubini and Arthur Hayes’ went at each other’s throats in Taipei.
Breaking news*U.S. REGULATOR PROBING CRYPTO EXCHANGE BITMEX ON CLIENT TRADES@BitMEXdotcom under investigation, just two weeks after that @Nouriel v @CryptoHayes Tangle in Taipei.
— Tim Culpan (@tculpan) July 19, 2019
BitMEX had announced back in 2017 that U.S. users would not be able to trade on BitMEX. However, any user can access the site by using a standard VPN.
Days after the debate between Arthur Hayes and Nouriel Roubini, Roubini had penned an article explaining his views on how BitMEX is violating laws.
“BitMEX insiders revealed to me that this exchange is also used daily for money laundering on a massive scale by terrorists and other criminals from Russia, Iran, and elsewhere; the exchange does nothing to stop this, as it profits from these transactions.”
Soon after the news broke out, reactions on the same were swift. Alistair Milne, CIO at Altana Digital Currency Fund, commented,
— Alistair Milne (@alistairmilne) July 19, 2019
This article will be updated as we receive further updates on the investigation.