A report unveiled this news on October 21, noting that the exchange made this decision as global governments continue coming up with stronger identity verification requirements. BitMEX has announced plans to mandate ID verification for all users. Verified users can compete for ‘sizable prizes’. Tags: ETH, BTC, Bitcoin, Augur, REP, DGD, ICN, MRK, MKR, GNT, DApp, Turing Complete, java script, how much money, time and money, new virtual currency, contractual dispute resolution, current market cap, core value proposition, CASPER, PoS, PoW, blockchain, Poloniex, GDAX, Coinbase, Vitalik Buterin, gas, fork. The ID verification programme will begin on the 28th of August as … Looks like you're using new Reddit on an old browser. Practical customer security is greatly enhanced by identity verification, allowing BitMEX support personnel to reliably verify the actual owner of an account in the event of a dispute, hack, or incapacitation. BitMEX Accelerates Mandatory ID Verification After Charges of Lax Anti-Money Laundering Controls (Shutterstock) Zack Voell. BitMEX is a P2P crypto-products trading platform. This requirement for new accounts does not impact the verification timeline for existing BitMEX … Press question mark to learn the rest of the keyboard shortcuts Press question mark to learn the rest of the keyboard shortcuts. Aug 14, 2020 at 1:00 a.m. UTC Updated Aug 14, 2020 at 2:27 p.m. UTC. The exchange is known most for its 100x leveraged trading, allowing users to take an enormous short or long position on bitcoin futures with just 1% down as collateral. BitMEX to Mandate ID Verification for All Traders as Maverick Exchange Ends Wild Ways (Shutterstock) Zack Voell. Last year, the company was having issues with U.S. regulators. Say a Caymans-registered ELP. BitMEX and the mobile apps issued under BMEX are wholly owned and operated by HDR Global Trading Limited, a Republic of Seychelles incorporated entity or its relevant authorised affiliates. I want to restart trading on BitMex but now they require an identity verification... do you think it's safe to give your personal data to them? ... BitMEX recently announced that it would begin mandatory Know Your Customer identity verification, which some in the industry saw as a red flag that the derivatives exchange may be … The BitMEX User verification program was introduced on 28 August […] BitMEX is a P2P crypto-products trading platform. Existing users can still go through user verification. Not as much as BitMex but a good way to dip my toes bitnex. Cryptocurrency exchange BitMEX says all the users on its platform are now completely verified. New comments cannot be posted and votes cannot be cast, More posts from the CryptoCurrency community. Cryptocurrency derivatives exchange BitMEX is accelerating the rollout of its User Verification Programme for its customers, which means they all must be fully verified by Nov. 5, 2020, to continue trading on the platform. BitMEX's corporate strategy has included plans for mandatory identity verification “for a while,” but running the verification system at scale for all users took time, Radclyffe said on a call with CoinDesk, noting a “material technological lift”. Oct 21, 2020 at 1:00 a.m. UTC Updated Oct 21, 2020 at 2:25 p.m. UTC. In August, BitMEX put in place some of those verification checks. Further information will be made available on 28 August 2020 at the time of the User Verification Programme going live. BitMEX, the popular crypto derivatives exchange, today confirmed that its User Verification Programme has been successfully implemented.The implementation makes BitMEX one of the largest crypto derivatives exchanges with a fully verified active user base. Weeks after cryptocurrency exchange BitMEX’s co-founder’s were charged for evading anti-money laundering rules, the exchange today made full verification mandatory for its users. All customers will be required to complete ID checks within the next 6 months. BitMEX and the mobile apps issued under BMEX are wholly owned and operated by HDR Global Trading Limited, a Republic of Seychelles incorporated entity or its relevant authorised affiliates. BitMEX has announced that the deadline of the recent Know Your Customer (KYC) verification exercise which was initially scheduled to end in February 2021 has now been moved to November 5. — BitMEX (@BitMEX) August 14, 2020. Cryptocurrency charts by TradingView. The official source for CryptoCurrency News, Discussion & Analysis. Since 4 December 2020, BitMEX users have been required to verify in order to deposit, trade, or withdraw funds. The contact details for BitMEX are not freely available online, but a form is available on the website for general queries and information. Press question mark to learn the rest of the keyboard shortcuts ... help Reddit App Reddit coins Reddit premium Reddit gifts. In a bid to finish up the Know Your Customer (KYC) verification program before the end of the year, the crypto exchange company has … Here you can discuss Ethereum news, memes, investing, trading, miscellaneous market-related subjects and other relevant technology. BitMEX announced on its official site that they will … The 4 December 2020 00:00 UTC deadline for our User Verification Programme has passed and, as previously communicated, all BitMEX users now need to have verified in order to deposit, trade, modify open positions, or withdraw funds. Welcome to /r/EthTrader, a 100% community driven sub. From 15 September 2020, all new registrations will require the user to complete ID verification before being able to make deposits and trade on the platform, or receive affiliate income for referrals. This makes BitMEX one of the largest derivatives exchanges whose user base is fully verified. Press question mark to learn the rest of the keyboard shortcuts. Mr. Hayes is from Buffalo, and previously worked as a trader at Deutsche Bank and … I'm accessing BITMEX through VPN/TOR, and I'm just wondering if anyone has had their account shutdown or frozen due to location verification … Press J to jump to the feed. Reddit also has a reasonably active community for those looking for advice and help from a wider audience. They are distributed monthly and used to weight your vote on polls. What if I missed the deadline? We’re pleased to confirm that our User Verification Programme has been successfully implemented, making BitMEX the largest crypto derivatives exchange in the world with a fully verified active user base. Background The User Verification Programme, introduced on 28 August 2020, requires individual users on BitMEX to go through a four step process, similar to ID checks on many other cryptocurrency exchanges. Cryptocurrency charts by TradingView. The CFTC is thought to have had BitMEX under investigation since at least July 2019 and in August this year, almost certainly in response to this scrutiny, the platform announced that it was finally going to start implementing mandatory identity verification. The official source for CryptoCurrency News, Discussion & Analysis. Moreover, from Dec. 4, 2020, they won’t […] BitMEX has gotten into trouble for not forcing verification despite the fact that the KYC rules have been obligatory for years, now. This is the first time since BitMEX’s 2014 foundation that the platform has required users to verify their identifies. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. BitMEX, a renowned crypto exchange and derivative trading platform has expedited the mandatory verification of all user identities. BitMEX is one of the world’s largest cryptocurrency exchanges, accounting for more than billion in trading volume on a daily basis. The new KYC requirements are geared towards making the platform more secure and trustworthy. The company also says that it will be launching a significant ‘Trading Tournament’ for users who complete the verification process. After being a proud trading venue for anonymous crypto fans, BitMEX has just announced that for the first time since its foundation in 2014, they will require ID checks and user verification, according to a blog post published by the company. 1.1m members in the CryptoCurrency community. They are distributed monthly and used to weight your vote on polls. Press J to jump to the feed. getting the message "BitMEX trading is not available in your region" at the top of the page now, just noticing it today, followed by the below message "HDR Global Trading Limited and its affiliates (the “HDR Group”) are not authorised or regulated by any regulatory body in Canada" and it continues. Exchanges like Synthetix and DyDx welcome all degens. This is the most bullish news for DeFi so far. KuCoin compromised and BitMEX charged, but Reddit’s MOON token name checks out. As a result, the firm set out to make sure it completes its customer verification program to stay off regulators' scrutiny. This animation gives a quick overview of the four steps individual users need to take to complete the BitMEX User Verification Process. Bitmex will be launching a user verification program on the 28th of August. Since December 4th, 2020, BitMEX users have been required to verify in order to deposit, trade, or withdraw funds. BitMex announced that its users must complete their identity verification within 6 months starting August 28. Trading in cryptocurrency derivatives involves significant risks. I want to restart trading on BitMex but now they require an identity verification... do you think it's safe to give your personal data to them? BitMEX released an official tweet stating its users to complete their full verification by Nov. 5, 2020 to continue trading on the platform. Best known for its leverage trade option as high as times, which can act as a risk management tool and amplifier for potential profit Limited ID verification required to begin trading immediately. Fast execution, low fees, Bitcoin futures and swaps: available only on BitMEX. BitMEX is a P2P crypto-products trading platform. Founded by HDR Global Trading Limited (which in turn was founded by former bankers Arthur Hayes, Samuel Reed and Ben Delo) in 2014, BitMEX is a trading platform operating in Hong Kong and registered in the Seychelles. Moons reward posters, commenters, and moderators for their contributions to the subreddit. Donuts reward posters, commenters, and moderators for their contributions to the subreddit. BitMEX was Forced to Make the Move. Once the deadline is over, unverified users won’t be able to open new positions. Bitmex has given a February 12th, 2021 deadline for users of the platform to verify their accounts. Trade Bitcoin and other cryptocurrencies with up to 100x leverage. Looks like you’re using new Reddit on an old browser. Press J to jump to the feed. BitMEX, a derivative exchange among the crypto money exchanges, will now recognize its customers. BitMEX and the mobile apps issued under BMEX are wholly owned and operated by HDR Global Trading Limited, a Republic of Seychelles incorporated entity or its relevant authorised affiliates. Two years ago, however, in 2019 — the US CFTC started investigating BitMEX. The change also will help BitMEX to better understand its user base, he added.