BitMEX will improve AML policy through partnership with Eventus Systems

Cryptocurrency derivatives exchange BitMEX has announced a partnership with Eventus Systems, which is developingsolutions 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 the terms by three monthsmandatory verification for all categories of clients. The exchange introduced a new verification program in August. Users must confirm their residential address and provide identification documents, take a selfie, and answer a number of questions about the origin of funds and trading experience.

We would like to remind you that on October 1, the Derivatives Exchange CommissionUS Commerce filed a lawsuit against BitMEX and its owners, accusing them of operating an unregistered trading platform and violating KYC/AML procedures. In addition, the US Department of Justice charged the management of the exchange with violating the Bank Secrecy Act.

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