BitMEX cryptocurrency exchange will begin enforcing User Verification (KYC) at 00:00 UTC on 28 August 2020.All BitMex customers will be required to complete ID checks within the next 6 months.
The required KYC details will include photo ID and proof of address, take a selfie, as well as answer a few multiple choice questions about source of funds and trading experience.
Know Your Customer (KYC) legislation requires businesses to verify the identity of individuals using their service, particularly where the transmission of money is involved. This includes cryptocurrencies.
BitMEX stands for Bitcoin Mercantile Exchange. It is a peer-to-peer trading platform that offers leveraged contracts that are bought and sold in Bitcoin. BitMEX is owned and operated by HDR Global Trading Limited, which is registered in the Seychelles and has offices worldwide. BitMEX was founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed.
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