Insiders of Bi 'an exclusively revealed to the chain store that Bi 'an has fine-tuned the terms of service, and users need to meet the new terms before they can conduct compliance transactions. For users who do not meet the new terms, there will be no change in the short term. But in the long run, it will have some impact on the transaction. At the same time, the inspection mainly involves American users, who will provide transactions that meet local regulations in the United States. According to informed sources, the US Commodity Futures Trading Commission (CFTC) is investigating the largest cryptocurrency exchange, fearing that the exchange will violate the regulations and allow Americans to participate in trading.
A person familiar with the matter, who asked not to be named, said that CFTC wanted to determine whether currency security allowed American residents to buy and sell derivatives because it was confidential. Currency securities are not registered in CFTC, and derivatives transactions are governed by CFTC. The other shore has an office in Singapore, but says there is no so-called company headquarters. The company has not been accused of any misconduct, and the investigation may not necessarily lead to law enforcement action. Therefore, some users need to provide relevant certificates that meet the monetary security service agreement. If the user can't prove that he meets the service agreement, Qian 'an will not be able to continue to provide relevant services to him.
This survey shows once again that market regulators may frustrate the ambition of cryptocurrency industry to become the mainstream of American investment. CFTC considers virtual currencies such as Bitcoin and Ethereum as commodities, and claims jurisdiction over cryptocurrency futures and other derivatives. This means that if cryptocurrency trading platforms are open to Americans, they will face strict customer protection and regulatory requirements, no matter where these exchanges are located.
Bi 'an said it would not comment on its communication with regulators, adding that the company was committed to complying with relevant regulations. The company said in a statement that, for example, currency security prohibits American residents from logging on its website and uses advanced technology to analyze whether there are signs of illegal transactions in deposits and withdrawals.
"We cooperate with regulators all over the world, and we attach great importance to compliance obligations," CFTC on the other side declined to comment.