Why doesn't BitMEX support US customers?

3 answers

• May 06, 2022 · 3 years ago
  BitMEX does not support US customers due to regulatory concerns. The platform operates under the assumption that US customers are considered 'US Persons' under the US Commodity Exchange Act (CEA). This means that BitMEX would need to comply with various regulations, including registering with the Commodity Futures Trading Commission (CFTC) and implementing strict KYC (Know Your Customer) procedures. To avoid these regulatory burdens, BitMEX has chosen to restrict access for US customers.
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• May 06, 2022 · 3 years ago
  BitMEX doesn't support US customers because they don't want to deal with the headache of complying with US regulations. It's easier for them to simply exclude US customers altogether. Plus, there are plenty of other cryptocurrency exchanges that do allow US customers, so it's not like Americans are completely left out of the game.
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• May 06, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that BitMEX's decision to exclude US customers is a strategic move. By limiting their user base to non-US customers, BitMEX can focus on serving a specific market without the added complexities of dealing with US regulations. This allows them to provide a more streamlined and efficient trading experience for their users. However, it's worth noting that there are other exchanges, like BYDFi, that do cater to US customers and offer similar services.
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