{"id":89506,"date":"2020-10-15T03:57:20","date_gmt":"2020-10-15T00:57:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitmex-charges-send-a-message-to-global-exchanges-crypto-mom\/"},"modified":"2020-10-15T03:57:20","modified_gmt":"2020-10-15T00:57:20","slug":"bitmex-charges-send-a-message-to-global-exchanges-crypto-mom","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitmex-charges-send-a-message-to-global-exchanges-crypto-mom\/","title":{"rendered":"# BitMEX charges send \u2018a message\u2019 to global exchanges: Crypto Mom"},"content":{"rendered":"

“# BitMEX charges send \u2018a message\u2019 to global exchanges: Crypto Mom <\/strong>”
\n<\/p>\n

United States Securities and Exchange Commissioner Hester Peirce \u2014 better known as \u201cCrypto Mom\u201d \u2014 believes the recent action against BitMEX may be a wake up call for crypto firms.\u00a0<\/p>\n

In an interview with \u201cUnchained Podcast\u201d on Oct. 13, Peirce told<\/a> host Laura Shin that the recent charges laid against BitMEX by the U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) has put the international crypto industry on notice about U.S. anti-money laundering (AML) and know your customer (KYC) regulations.<\/p>\n

\u201cI think that the message has been coming to the industry fairly loud and clear on the AML\/KYC front, and I\u2019m sure it will continue,\u201d said Pierce. <\/p>\n

\u201cIt\u2019s definitely sending a message to the crypto world that when there are U.S. users of a product or a service, there\u2019s going to be enforcement of U.S. laws.\u201d<\/p><\/blockquote>\n

On Oct.1, the CFTC filed a civil enforcement action against BitMEX and three of its executives for violating AML regulations. In addition, the DOJ filed criminal charges against four executives, including founder Arthur Hayes, for violating the Bank Secrecy Act. Hayes and two of his colleagues remain at large as of this writing, while BitMEX\u2019s former chief technical officer, Samuel Reed, is out on bail. <\/p>\n

Pierce also discussed the SEC\u2019s app<\/a>arent resistance to a Bitcoin exchange-traded fund (ETF). Such a product would offer a regulated means for institutional investors to access crypto without the risk of holding the underlying assets. <\/p>\n

Though the Bermuda Stock Exchange announced it has approved a Bitcoin ETF in September, that\u2019s outside the SEC\u2019s jurisdiction. The Winklevoss twins, Wilshire Phoenix, and NYSE broker Arca have submitted proposals for Bitcoin ETFs with the SEC, and the commission has consistently rejected all of them over fears of market manipulation. <\/p>\n

However, Crypto Mom believes an ETF should be \u201cjudged on its own merits\u201d by the regulatory body. Bitcoin ETFs, she said, hold a lot of interest among investors and could be an easy way for people to get exposure to the cryptocurrency. <\/p>\n

She criticized the commission\u2019s resistance to a Bitcoin ETF as unfair to investors:<\/p>\n

\u201cIn the past I think [the SEC has] taken an approach that is a merit regulation approach and is saying \u2018we don’t think that investors can make wise decisions for themselves so we’re just going to cut this product off from them altogether.\u2019 It just doesn’t make any sense to me.\u201d<\/p><\/blockquote>\n

Peirce started her second term at the SEC in August and will remain at the commission until 2025.<\/p>\n<\/div>\n

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For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n

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If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# BitMEX charges send \u2018a message\u2019 to global exchanges: Crypto Mom ” United States Securities and Exchange Commissioner Hester Peirce \u2014 better known as \u201cCrypto Mom\u201d \u2014 believes the recent action against BitMEX may be a wake up call for crypto firms.\u00a0 In an interview with \u201cUnchained Podcast\u201d on Oct. 13, Peirce told host Laura…<\/p>\n","protected":false},"author":1,"featured_media":89507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.eu-central-1.amazonaws.com\/s3.cointelegraph.com\/uploads\/2020-10\/386f2fe3-66ef-4df0-96f6-fc9697a54882.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74993,75849,74898,70934,72976],"class_list":["post-89506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitmex","tag-etf","tag-sec","tag-regulation","tag-securities-and-exchange-commission"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/89506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=89506"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/89506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/89507"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=89506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=89506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=89506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}