Bitfinex Swears Its Trying Super Hard to Block US Bitcoin Traders
Beset with allegations that it is flouting regulations by allowing US bitcoin traders to access its platform, cryptocurrency exchange giant Bitfinex promised that its trying super hard to stop that from happening.
Bitfinex Admits US Resident Traded on Its Bitcoin Exchange A New York resident was able to create an account on Bitfinex called ImaNYresident despite the exchanges supposed ban on US customers. | Source: Shutterstock
After sneakily evading Bitfinexs security restrictions – read: checking a box that says they pinky-swear theyre not a US resident – ImaNYresident was able to use the bitcoin exchange freely.
Its not a good look for Bitfinex, which has come under legal scrutiny for allegedly serving US bitcoin traders. The New York Attorney General claims that Bitfinex, along with stablecoin issuer Tether, has offered unlicensed cryptocurrency services to New York residents up to and including 2019.
But the firm promises its working super-duper hard to keep its exchange squeaky-clean: we remind United States persons that they are not welcome on our platform, the announcement read.
But in a bizarre and frankly disconcerting turn, Bitfinex then blamed journalist Frank Chaparro for its seeming inability to enforce its own geographic restrictions.
We think its unfortunate that Mr. Chaparro would rather associate himself with these actions than actively attempt to help us uncover and punish fraudulent behaviour on our platform. This kind of gotcha sting also speaks volumes about his and our other detractors true motivations.
Apparently, the firm believes its the medias duty to actively attempt to help…uncover and punish fraudulent behavior on its platform. I guess thats one way to cut costs.
Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN.