RATE Group | BitMEX to Limit Access From Seychelles, Hong Kong and Bermuda
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BitMEX to Limit Access From Seychelles, Hong Kong and Bermuda

20 Aug BitMEX to Limit Access From Seychelles, Hong Kong and Bermuda

Posted at 06:58h in Cryptocurrency News by

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Major cryptocurrency exchange BitMEX announced that it will restrict access to its platform in Seychelles, Hong Kong and Bermuda.

Per an announcement published on Aug. 19, in order to ensure the safety of funds and the stability of the exchange, the firm restricted access from countries in which the offices and workers of its parent company — HDR Global Trading Limited — reside. BitMex also claims that this is a proactive measure and noted, “This change will have no financial impact on the business and will affect very few people.”

Part of a broader initiative

BitMEX noted that closing trading in the aforementioned jurisdictions as part of a wider effort to bring transparency to the crypto space as it becomes more regulated. The exchange reportedly intends to improve the transparency of its systems and show third parties the reasoning behind features of the platform. 

BitMEX also claims to be working on independent audits of its insurance fund, market-making activities and…

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