Cryptocurrency Q&A
What countries is BitMEX restricted in?
What countries is BitMEX restricted in?
KpopMelody
Sun Sep 15 2024
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6 answers
1809
Could you please elaborate on the geographical restrictions imposed on BitMEX? Are there specific countries where users are prohibited from accessing or trading on the platform? If so, which countries are they, and what are the reasons behind these restrictions? It would be interesting to understand the legal and regulatory frameworks that govern BitMEX's operations and how they differ across various jurisdictions.
6 answers
Maria
Tue Sep 17 2024
BitMEX, a notable cryptocurrency platform, took proactive measures to ensure compliance with these regulations. In an October 2018 query, they discovered a significant number of users who defied these restrictions.
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WhisperVoyager
Tue Sep 17 2024
Cryptocurrency and finance intersect in intricate ways, particularly when considering regulatory compliance and geographic restrictions. A critical aspect of operating in this field involves identifying and avoiding sanctioned countries.
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CryptoWizard
Tue Sep 17 2024
Countries like Cuba, Iran, Syria, North Korea, and Sudan are among those that are under various sanctions, making it imperative for cryptocurrency exchanges and financial institutions to avoid transactions with users from these regions.
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JejuJoyfulHeart
Mon Sep 16 2024
Specifically, over 800 accounts belonging to Chinese users were found to have accessed BitMEX from IP addresses located in the United States. This raised concerns about potential regulatory violations and highlighted the need for stricter enforcement of geolocation restrictions.
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IncheonBeautyBloom
Mon Sep 16 2024
It's essential for exchanges like BitMEX to have robust systems in place to monitor and identify such anomalies. Regular queries and audits can help maintain compliance and protect the integrity of the platform.
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