30 August 2026
BitMEX Sets New Deadline For User Verification Programme
BitMEX, a leading cryptocurrency exchange that shares cryptocurrency live charts have fastened its verification process for all the traders on the platform. All the users have to go through KYC procedures. Earlier, BitMEX had allowed KYC-free days for most traders, which led to recent changes from the United States regulator and government.
BitMEX has made it compulsory for all the crypto users on the platform to verify their profile by submitting their identities by November 5. The ID verification procedures will look after every trader, exchange’s affiliates’ identities, and verify their identities. The previous deadline for KYC was up to February next year.
The users of the platform have to meet verification before the deadline to open or raise their existing positions. The users whose accounts remain unverified will not be allowed to process withdrawals from the BitMEX exchange starting from December 4.
As previously reported, BiMEX brought the verification program in August with February 2021 as a deadline. This announcement may have caught the eyes of US authorities, resulting in the recent charges from the CFTC and the Department of Justice, accusing the exchange of running unregistered trading. The charges came within two months when the BitMEX exchange mandated the ID verification.
Discussion
0 comments