In a blog post revealed Thursday afternoon, Bitmex lashed out at expenses that the Commodity Futures Buying and selling Fee and Division of Justice filed against the exchange and its administration earlier right now.

Bitmex’s assertion claimed that “From our early days as a start-up, we now have at all times sought to adjust to relevant U.S. legal guidelines, as these legal guidelines have been understood on the time and based mostly on obtainable steering.”

What precisely “relevant U.S. legal guidelines” are will doubtless be central to the case. Bitmex has lengthy maintained that it doesn’t serve clients within the U.S., although others earlier than the CFTC and DOJ have argued that this a lie. The CFTC’s case rests on Bitmex’s failure to register with the fee as a derivatives trade within the U.S. 

The DOJ, then again, argues that Bitmex intentionally did not implement efficient know-your-customer and anti-money laundering packages, in violation of the Financial institution Secrecy Act. Each companies assert that Bitmex had years of warning that their operations have been unlawful.