Major crypto derivatives exchange BitMEX said it will ask all its customers to complete ID checks within the next 6 months if they want to to continue trading on the platform.
“The game has changed, and so have we; keep a stiff upper lip,” tweeted Arthur Hayes, Co-founder and CEO of the company.
The User Verification Programme is scheduled to launch on “00:00 UTC on 28 August,” while their users will have time to complete it by 12 February 2021. Individual users will be prompted to upload a photo ID and proof of address, take a selfie, as well as answer a few multiple choice questions about source of funds and trading experience, BitMEX said.
According to the company, these new controls will enable them “to create a more trusted and secure trading environment for all BitMEX users.”