Bitmex Fast-Tracks KYC Program as Regulators Tighten Screws on Anti-Money Laundering Rules


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Bitcoin Ethereum News Bitmex said Wednesday that it is fast-tracking its user verification program in order to comply with regulatory requirements. Users must now be fully verified by Nov. 5, 2020 “to continue trading on the platform,” it said. In a statement , the crypto derivatives exchange stated that “unverified users will not be able to open new positions” after this date. They will also “not be able to withdraw funds from their Bitmex account without completing verification” beginning Dec. 4. The accelerated verification means Bitmex’s mandatory know-your-customer (KYC) process – first announced Aug. 28, 2020 – will now close...