Crypto Derivatives Exchange BitMEX Says All Users Are Now Verified

After getting in hot water with U.S. regulators last year, the exchange has rolled out mandatory verification for all users.

AccessTimeIconJan 7, 2021 at 3:28 p.m. UTC
Updated May 9, 2023 at 3:14 a.m. UTC

BitMEX, the cryptocurrency derivatives exchange that found itself in hot water with U.S. regulators last year, announced Thursday that its customer verification program has now been fully implemented across active users.

  • Since Dec. 4, BitMEX users have been required to become verified in order to deposit, trade or withdraw funds.
  • The Seychelles-based company said the program's completion makes it one of the largest crypto derivatives exchanges in the world with a fully verified active user base.
  • The know-your-customer compliance effort comes after regulatory scrutiny in the last two years.
  • In 2019, the U.S. Commodity Futures Trading Commission (CFTC) opened an investigation into BitMEX over whether the exchange had allowed U.S. traders to use its platform.
  • Then in October 2020, the CFTC and federal prosecutors charged BitMEX with facilitating unregistered trading and other violations.
  • Since then, the exchange has shaken up its executive team and brought on its first compliance chief.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.