CFTC charges BitMex with illegally operating derivatives exchange

cointelegraph.com

10 pointsmonokh3 comments

As much as I dislike US overreach, this is a very predictable result of operating a venue like this without any us licenses etc. Most companies ban (or limit) US citizen/resident users to avoid exactly this sort of thing...

They blocked US ips and claimed to not allow US clients.

Your not wrong and, I don't like us overreach.

That said... They only banned US users from 2017. And the ban is really just a one off ip geo check. They don't check ID (at all), they don't even ask address, no requirement for national ID numbers etc. I think it's ridiculous how much effort other (non US) companies put into making sure Americans can't sneak in. But that's what's needed to avoid this. If you choose to ignore a risk and then it comes back to bite you...

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