According to an official announcement by BitMEX , existing Japanese users on the exchange will not be able to place orders that would open a new position or increase an existing open position. The restrictions put on by the exchange are in response to the amendments to the Japan Financial Instruments and Exchange Act and Japan Payment Services Act effective beginning next month following the cabinet order earlier this month.
BitMEX pledges to continue to work with Japanese regulatory authorities.
The crypto exchange BitMEX in its blog announced that they would continue to work with Japanese regulatory authorities to bring back Japanese users on the platform. BitMEX’s announcement comes after Japanese Regulators, including Japan Financial Services Agency (FSA), approved Huobi Global’s native exchange Token (H.T.) as a compliant crypto asset in addition to 25 other compliant tokens. H.T will begin trading on Huobi Japan starting next month. The blog further mentioned that the exchange will continue to work with the Japanese regulatory authorities to support their aims for the Japanese market and will keep the Japanese users updated.
BitMEX continues to branch out in other countries.
Even though BitMEX has pulled out from Japan market, but the exchange is extending its presence in other countries. The exchange announced to invest in Indian crypto space earlier this month as it invested in CoinDCX. Earlier this month, BitMEX announced that it would be launching an ETHUSD Quanto futures contract next month. The new futures product will be the first of its kind in the market. BitMEX also launched a new perpetual swap contract pair on its platform to trade XRP against USD with leverage earlier this year.
Earlier, BitMEX operator HDR Global Trading Limited donated $2.5 million to help fight the coronavirus pandemic. The four organizations, including Gates Philanthropy Partners, Nuclear Threat Initiative, OpenMined, and Our World in Data, would receive grants between $300,000 and $1,000,000 from the BitMEX operator.