BitMEX Volume Plunges 33% in Midst of Purported CFTC Case

The announcement of an investigation by the United States Commodity Futures and Trade Commission (CFTC) into BitMEX came only two days ago, yet the detrimental effect on the exchange’s popularity has already been substantial.

As reported by Bloomberg, the CTFC has begun a month-long investigation into BitMEX over high leverage trading options and concerns of US citizens accessing the platform. The US government’s stance on cryptocurrency as commodities led to exchanges falling under the jurisdiction of the CTFC. As the exchange was not registered with the regulatory body – a prerequisite for entrance into American crypto markets – any present utilization of BitMEX by US citizens is considered unlawful by the CTFC.

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