The Hong Kong-based crypto exchange BitMex has tightened its Terms of Service policy.
From now on, users from the United States of America, Québec (Canada), Cuba, Crimea and Sevastopol, Iran, Syria, North Korea and Sudan, or any other jurisdiction where the services offered by BitMEX are restricted, are prohibited from holding positions or entering into contracts at BitMEX.
According to the official statement, the exchange reserves the right "to immediately close the accounts and to liquidate the open positions" of clients who determined to have breached the exchange’s Terms of Service.
It’s not surprising that the exchange crackdowns its policy since the exchange is located under Hong Kong’s jurisdiction, where crypto-related business activity remains uncertain from the perspective of legislation.
However, BitMEX is not the only exchange which exists against the principles of sovereignty, which were the basis for cryptocurrency at its very first stage of existence.
Earlier, Binance required its remaining users from Iran to withdraw their funds as the cryptocurrency exchange wanted to comply with international sanctions.
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