May 13, 2021

BitMEX will improve AML policy through partnership with Eventus Systems

The BitMEX cryptocurrency derivatives exchange has announced a partnership with Eventus Systems, a company developing solutions to prevent market manipulation and comply with anti-money laundering (AML) rules.

We've bolstered our anti money laundering and trade surveillance monitoring through our partnership with @EventusSystems.More here: t.co/bOjEEQkQcM

— BitMEX (@BitMEX) November 12, 2020

BitMEX expects that the integration of the Eventus Validus product will enable effective detection of attackers and improved proactive monitoring of suspicious trading activity on the platform.

Eventus Systems CEO Travis Schwab stressed that the company has invested significant resources in refining the technology intended for large market operators.

Chief Compliance Officer100x Group Malcolm Wright believes Eventus Systems' tools will enable the exchange to become a leader in regulatory compliance. The BitMEX partner clients include companies such as Coinbase and ErisX.

In October, BitMEX reduced mandatory verification for all categories of customers by three months.The exchange introduced a new verification program in August.Users need to confirm the address of residence and provide identification documents, take selfies, as well as answer a number of questions about the origin of funds and experience of trading.

Recall, on October 1, the U.S. Securities and Exchange Commission filed a lawsuit against BitMEX and its owners, accusing them of running an unregistered trading platform and violating KYC/AML procedures.In addition, the U.S. Department of Justice charged the management of the exchange with violating the Bank Secrecy Act.


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