READING THIS CONSENT DECREE IN DETAIL re cryptocurrency exchange pioneer BitMEX and its perpetual swap. Pretty extraordinary what BitMEX this week agreed to, in addition to paying a $100 million civil monetary penalty. Yes, one Hundred Million Dollars ($100,000,000) 
BitMEX from no later than November 2014 through at least October 1, 2020, operated an illegal derivatives trading platform that solicited business from US-based customers.
BitMEX solicited orders from U.S.-based customers for futures, options, and swaps through its website and on social media/U.S. customers were able to access the BitMEX platform from the U.S, EVEN THOUGH BitMEX never registering with the CFTC
BitMEX failed to implement a customer identification program (“CIP”), including know-your-customer (“KYC”) procedures, that would enable it to identify U.S. persons using the BitMEX platform. (It has since done so)
BitMEX also agreed that it has now removed business operations from the US United States, and blocked all US Persons from its platform, unless and until BitMEX obtains required registrations from the commission.
Here is a copy of the full consent decree. Click on link. cftc.gov/media/6261/enf…
Here is a story that The NYT did this month on BitMEX and other cryptocurrency platforms that offer derivatives trades & that have in some cases (BitMEX and Binance) have at least in the past done business with US-based customers despite a ban on doing so. nytimes.com/2021/07/23/us/…
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