U.S. commodities regulator is investigating BitMEX

For its suspected activities targeting American users/investors, the U.S. Commodity Futures Trading Commission (CFTC) is reportedly investigating BitMEX.

BitMEX is a Seychelles-based cryptocurrency exchange that provides margin trading for 100 times leverage.

It turns out that the CFTC is now looking into whether BitMEX could have allowed U.S customers or traders access to use its exchange, a practice is against the laws of the U.S. because cryptocurrencies are regarded as commodities and BitMEX would require a pU.S. commodities trading license to provide such services.

Without confirming the information, BitMEX said in a statement that:

“We continue to monitor all legal and regulatory developments around the world and will comply with all applicable laws and regulations; we reject any allegations of criminality, manipulation or unfair treatment of our customers, who are at the center of everything we do.”

The statement of the exchange speaks volumes. The next few weeks would determine if it will suffer sanctions from the U.S. CFTC.