August 14, 2020 BitMex will implement KYC procedures for all customers.

BitMex, a Seychelles-based cryptoasset derivatives exchange often considered controversial, will begin requiring users to undergo know-your-customer screening prior to trading. The move is significant for the exchange, as it previously only required most users to submit their names, email addresses, and country of residence, a process it claimed took only 30 seconds. BitMex is currently the second largest cryptoasset derivatives exchange by open interest.