But are they after BitMEX for ‘current’ actions or for past actions…they can do either if the country, in general, determines things are ‘illegal’? So literally, they could come after any exchange from the ‘wild west’ days of say 2014 or in the past. The question is WILL the CFTC accept ‘changes’ in how BitMEX operates and fines…or will they try to burn the exchange to the ground as an example to others? Also, from what I can tell if BitMEX is in Hong Kong, so the corporation has little to f ear, but some sanctions and banning in the USA right?
My understanding is that they are operating in the US and thus need to comply with the law in the US. HK and the US just suspended the extradition treaty. If the US wants to enforce the law, they have to wait until the founders enter a jurisdiction that has an extradition treaty with the US.
I thought BitMIX was already banned in the USA…hmmm…let me check…yep…no go…
What I’ve seen so far is that they are going after BitMIX from way ‘before’ ‘Know Your Customer’ protocols were in place. If that is the case they could go after ‘every’ exchange from back in the day.
Also the company is in Hong Kong…and already banned in the USA…if not for the arrests in the USA I’m not exactly sure with China relations enforcement of this by the USA would get any traction…
but than again, if the fish caught and arrested in this hold big enough stake in BitMIX they likely will not just ignore this …I suspect i will be the usual settlement of no jail time if come up to compliance and huge fines…as a settlement…seems how that usually goes
of course, I know ‘zip’ I’m just kibitzing here
Brad
I think we will see a mass migration to DEXs soon. This is the true spirit of cryptocurrency anyway