The Hong Kong-based crypto exchange BitMex is closing all trading accounts in the United States and in the Canadian province of Quebec. The main reason? Growing regulatory crackdown around unlicensed crypto exchanges in North America.
The measure takes place, specifically, with the “Autorité des Marchés Financiers” (AMF), the Canadian financial markets regulatory body, informing that BitMex is working illegally in the country:
“BitMEX is not registered with the AMF and is therefore not authorized to have activities in the province of Quebec. We informed this company that its activities were illegal.”
At the same time there were, apparently, no similar news regarding the US. Analysts assume, however, that the reasons for the shutdown are the same — increasing regulation — and that the company is acting harmoniously with the whole North America area.
BitMex, which is one of the most popular crypto trading platforms in the world, have not shared any comments regarding this situation.
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