Crypto derivatives exchange BitMEX announced Thursday it would start asking users to verify their identities at the end of the month.
Known for being a pioneer in crypto derivatives and high-leverage trading, BitMEX typically facilitates the trading of $1 billion worth of crypto a day, per data provided by Skew. In a blog post, the firm said it would launch its new User Verification Program on August 28. BitMEX said that "all customers will be asked to complete ID checks within the next 6 months."
The exchange will require users to upload documents confirming their identity and location. In a sense, it is a departure from the crypto-native, libertarian brand the firm has been known for, but it could help BitMEX expand into new jurisdictions and avoid the ire of regulators. The U.S. …