Many overseas cryptocurrency exchanges would be happy to have U.S. traders as clients, but these days, American residents might as well have a sign around their necks reading “Danger: high voltage!”
That’s been the case since Oct. 1, at least, when the United States Commodity Futures Trading Commission filed a complaint against Seychelles-registered BitMEX for soliciting U.S. residents and thus violating the Commodity Exchange Act. According to the complaint: “BitMEX has never been registered with the CFTC in any capacity and has not complied with the laws and regulations.” This poses a serious problem for the U.S. regulators that try to keep tabs on money laundering, manipulative trading and other illegal activities.
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