BitMEX: users must update their customer data to continue using the platform

The exchange informs users that they have two weeks to meet the KYC deadline.

Failure to update information on time will result in loss of checkout capability

The KYC (Know Your Client) requirement is one of the many steps BitMEX has taken to meet compliance standards.

The BitMEX derivatives platform has reminded users that they have two weeks to update their KYC (Know Your Customer) information. If the deadline is passed, users will not be able to withdraw funds or maintain positions.

The cryptocurrency derivatives platform BitMEX reminded users on November 19 that they have two more weeks to meet the KYC deadline. Users who do not do so before December 4th will not be able to continue trading, maintain positions or withdraw funds.

BitMEX:

Reminder – Two weeks to complete user verification: Complete verification by December 4, 2020 at 00:00 UTC to continue trading, hold positions open, and withdraw funds. We thank the users for their support. Learn more: https://blog.bitmex.com/important-user-verification-deadline-on-4-december-2020/

ichi:

KYC at withdrawal? Why would you need to know your non-client who leaves and no longer trades?

It’s not correct

The community’s reaction was swift and harsh. Many Twitter users complained that the exchange prevented users from withdrawing their funds if they did not meet the conditions. One of the common questions was why BitMEX needed to know user details if they were already leaving.

BitMEX’s expedited KYC requirements are the result of multiple investigations and lawsuits. The exchange shortened its KYC deadline by two months after facing CFTC and DOJ action in October 2020.

The exchange has taken other steps to strengthen compliance, including adding the Refinitiv Toolset to its platform. This should help the exchange monitor illegal use of its platform. It also announced a monitoring partnership with the AML Eventus Systems platform.

For their part, the US authorities have stepped up their examination of the cryptocurrency space. The SEC has filed several lawsuits this year that have resulted in closings or settlements . Telegram was forced to shut down its blockchain project, while Kik settled his lawsuit with a $ 5 million fine.

BitMEX lawsuits rocked the platform

BitMEX has been working hard to implement the KYC rules since US authorities started legal action against it. The exchange has attempted to play down legal actions, saying the exchange will continue to operate normally. BitMEX founders also face charges, most notably CEO Arthur Hayes.

BitMEX is also facing legal action claiming its founders „looted“ $ 440 million after learning about the investigations. These allegations were dismissed by the exchange, which pledged to fight all lawsuits against her.

Galaxy Digital Erhält Genehmigung Zur Auflegung Eines Neuen Bitcoin-Fonds In Kanada

Das Handelsbankeninstitut Galaxy Digital hat von den kanadischen Wertpapieraufsichtsbehörden die rechtliche Genehmigung zur Auflegung eines Bitcoin-Fonds (anerkannt als CI Galaxy Bitcoin Fund) in Kanada erhalten. Galaxy Digital hat eine Partnerschaft mit CI Global Asset Management, einer kanadischen Investmentfirma, geschlossen, um eine solche Auflegung eines öffentlichen Bitcoin-Fonds in der Nation zu ermöglichen.

Der CI Galaxy Bitcoin Fund zielt darauf ab, kanadischen Anteilinhabern (Anlegern aller Unternehmen, einschließlich Partnerschaften, Unternehmen und anderen) die Möglichkeit zu geben, direkt über die Bestände des Fonds in Bitcoins zu investieren.

Im Rahmen der Initiative hat CI Global Asset Management von den kanadischen Wertpapierverwaltern (CSA) die rechtliche Genehmigung erhalten, einen Börsengang des CI Galaxy Bitcoin Fund durchzuführen. Der Börsengang würde aus Anteilen der Klasse F und Anteilen der Klasse A zu einem Preis von jeweils 10 USD pro Anteil bestehen.

Wenn Anleger solche Anteile kaufen, würde Galaxy Digital die Käufe in Form von BTC-Käufen aus den Beständen des Fonds aufteilen

CI Global Asset Management würde für die Verwaltung des neuen Bitcoin-Fonds verantwortlich sein. Auf der anderen Seite würde Galaxy Digital als Unterberater fungieren, der mit der Ausführung aller Bitcoin-Handelsaktivitäten im Auftrag des Fonds beauftragt ist. Der neue Fonds würde in allen Gebieten und Provinzen Kanadas angeboten.

Der Fonds würde Kanadiern zur Verfügung stehen und es Anlegern ermöglichen, Bitcoin-Eigentum an öffentlich regulierten Märkten, einschließlich Börsen und außerbörslichen Börsen (OTC), zu verkaufen und zu kaufen. Dieser Ansatz würde ernsthafte Anleger dazu ermutigen, in Bitcoins zu investieren, anstatt an nicht regulierten Kryptowährungsbörsen zu handeln.

Michel Novogratz hat sich verpflichtet, Bitcoin an Institutionen zu bringen

Die Galaxy Digital Holding Limited wurde von Bitcoin-Bulle Michel Novogratz gegründet und ist im Besitz des Bitcoin-Bullen Michel Novogratz. Das Unternehmen bietet Anlegern über seine verschiedenen Partnerschaften Zugang zu Kryptowährungen wie Bitcoin.

In der Vergangenheit hat das Unternehmen Fonds wie den Galaxy Institutional Bitcoin Fund und den Galaxy Bitcoin Fund aufgelegt. Das Unternehmen bietet auch viele andere Fonds an, die auf verschiedenen Kryptowährungen wie EOS basieren. Während der Galaxy Institutional Bitcoin Fund nur institutionellen Unternehmen in den USA zur Verfügung steht, ist der neue kanadische Fonds für öffentliche Investitionen in Kanada offen.

Halving and Zcash Update (ZEC): what has changed?

The anonymous payment network Zcash (ZEC) has just experienced two major changes. He did his first halving, as well as an update that should ease some tensions … We take stock of the subject.

Halving for Zcash (ZEC)

Like Bitcoin (BTC) , Zcash uses a periodic mechanism to control its inflation: halving. This halves the mining rewards generated. Until yesterday, 6.25 ZEC were generated with each block. Since the halving, miners will only produce 3,125 ZEC per block, or about $ 200 at the current price.

No particular problem was noted during this change. The hashrate does not seem to have been strongly affected by this halving so far, if we are to believe the data from bitinfocharts . However, it will be necessary to wait the next few weeks to see if this halving will have an effect on the number of minors participating in the Bitcoin Profit network.

A major update for the altcoin

Zcash’s halving, however, was almost overshadowed by another big piece of news: the Canopy update . It follows months of debates within the Zcash community. Originally, the network was funded by a “Founders Reward” , which allowed 15% of mining rewards to be redirected to Zcash founders and investors. This temporary measure normally ended this month, in November 2020.

But Zooko Wilcox, the head of the Electric Coin Company, had suggested extending this solution, to continue funding the network . This had sparked a significant outcry, and many debates had animated the Zcash community, which eventually came to an agreement. A development fund has been created to establish a new funding model.

From now on, 80% of the rewards will go to minors, as was already the case. But 8% of the prize will be for the x ‚Major Grants “ , which correspond to a development fund. 7% will then be distributed to the Electric Coin Company, and 5% to the Zcash foundation.

The Electric Coin Company welcomed this breakthrough, which it considers crucial:

“Activating Canopy represents a new era for Zcash , with many new participants in the ecosystem. We will continue to carry out our mission: to give everyone their economic freedom. “

The course of the ZEC is also climbing

It must be said that Zcash and other anonymous currency projects like Monero (XMR) have been under fire from regulators for many months. Yesterday, we learned that South Korea had quite simply decided to ban the trading of anonymous altcoins . However, the price of Zcash has been rising in recent weeks, as has that of Bitcoin.

Over a week, it takes + 13% , reaching more than $ 67 overnight. Just like BTC, however, its price underwent a strong correction in the hours that followed: it hit $ 60 early this morning:

However, its progression over the last twelve months is positive: it thus takes + 77% over the year . Its market cap exceeds $ 646 million, which places it at rank 38 in the ranking of cryptocurrencies by capitalization.