In a weblog submit printed Thursday afternoon, Bitmex lashed out at fees that the Commodity Futures Buying and selling Fee and Division of Justice filed in opposition to the trade and its administration earlier in the present day.
Bitmex’s assertion claimed that “From our early days as a start-up, we’ve got all the time sought to adjust to relevant U.S. legal guidelines, as these legal guidelines had been understood on the time and based mostly on obtainable steering.”
What precisely “relevant U.S. legal guidelines” are will probably be central to the case. Bitmex has lengthy maintained that it doesn’t serve clients within the U.S., although others earlier than the CFTC and DOJ have argued that this a lie. The CFTC’s case rests on Bitmex’s failure to register with the fee as a derivatives trade within the U.S.
The DOJ, alternatively, argues that Bitmex intentionally did not implement efficient know-your-customer and anti-money laundering packages, in violation of the Financial institution Secrecy Act. Each businesses assert that Bitmex had years of warning that their operations had been unlawful.
In its submit denying the costs, Bitmex additionally assured customers that buying and selling will proceed as traditional. That is even if the DOJ arrested a minimum of considered one of Bitmex’s founders, Samuel Reed, earlier in the present day.
Tune in for Cointelegraph’s livestream on the Bitmex case beginning tonight at 5:00 PM EST/21:00 UTC.