Pi Capital
Date of publication: 29 April 2020
BitMEX will limit Japanese customer service due to new legislation
The Seychelles cryptocurrency exchange BitMEX this Tuesday notified Japanese customers about the restriction of access to the platform.

From May 1, residents of Japan will no longer be able to fully use the services of BitMEX. The ability to register accounts for new users will be closed, while existing customers will not be able to place applications for opening new or increasing existing positions. Positions opened before this date will not be affected and shall be calculated in accordance with the terms of the contract.

“The restrictions are a response to the amendments to the law“ On payment instruments and exchanges ”and the law“ On payment services ”of Japan, which will enter into force on May 1, 2020 in accordance with the decree of the Cabinet, — BitMEX writes. — We support the efforts of regulators to develop standards for cryptocurrency products that will support the development of this rapidly growing asset class. We will continue to work with the Japanese regulatory authorities and inform Japanese users in the event of news. ”

Last week, the Japan Financial Services Agency (FSA) approved its own token on the Huobi exchange for trading in the local market.

Earlier, a notice on the restriction of access for Japanese traders was also issued by the Binance exchange.

Alexey Shternshis
Pi Capital Union

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