https://www.bloomberg.com/news/articles/2019-07-19/u-s-regulator-probing-crypto-exchange-bitmex-over-client-trades
>The months-long CFTC probe is focused on whether BitMEX broke rules by allowing Americans to trade on the platform, which isn’t registered with the agency, said one of the people who asked not to be named discussing the investigation, which hasn’t been made public. The regulator considers virtual currencies like Bitcoin to be commodities, and it has jurisdiction over futures and other derivatives based on them.
>The probe is ongoing and the regulator’s investigations often don’t lead to allegations of misconduct. The CFTC declined to comment.
This isn't going to end here.. They might not be able to bring them down just yet but their eventual plan is to get any foreign exchange to use KYC on all their clients and then implement something much more stringent than even KYC:
https://www.coindesk.com/beyond-kyc-global-regulators-appear-set-to-adopt-tough-new-rules-for-crypto-exchanges
>This would go beyond the basic “know your customer” (KYC) rules that bedevil many crypto users. In addition to verifying and keeping records of their own users’ identities, exchanges and other service providers would have to pass customer information to each other when transferring funds, just as banks are required to do. This is known in the U.S. as the “travel rule”.
What's the solution???? We need to start tweeting at developers to make decentralized exchanges.. We need a new satoshi.