Major cryptocurrency exchange BitMEX has begun blocking some jurisdiction which includes Seychelles, Hong Kong , and Bermuda, notable jurisdictions where offices and workers of its parent company, HDR Global Trading Limited reside.
It was revealed that the development was an effort to ensure the safety of funds and the stability of the exchange adding that the measure will have no financial impact on the business and will affect very few people.
BitMEX’s recent moves is part of a broader initiative to bring transparency to the crypto space as it becomes more regulated a well as to improve the transparency of its systems and show third parties how they conduct their business in the platform.
In addition, the company is reportedly working on independent audits of its insurance fund, market-making activities , and tradable contract structure and will be sharing the results of their audits in the future.
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