BitMEX gets reprimand from UK's financial regulator

BitMEX gets reprimand from UK's financial regulator
  • The Financial Conduct Authority, the U.K.’s financial watchdog, has warned that it suspects Bitmex, the popular Hong Kong-based bitcoin derivatives trading platform, of illegally promoting itself to U.K. citizens, and allowing them to trade.
  • Bitmex is a peer-to-peer trading platform that allows traders to take positions against one another on crypto futures and swaps. The platform settles exclusively in bitcoin.
  • The platform offers up to 100x leverage on its bitcoin perpetual swap product, which means that even a small movement in the price of bitcoin can result in a total loss.