A former investor is suing BitMEX for allegedly selling unregulated cryptocurrency derivative products to UK customers, despite lacking authorization from the Financial Conduct Authority. The lawsuit claims the exchange misled investors by offering financial services without proper oversight. The case highlights regulatory concerns in the cryptocurrency market, where oversight remains a contentious issue. A software engineer is leading the legal challenge, seeking compensation for what he describes as misconduct.
Former investor alleges BitMEX sold products in UK despite not being regulated by Financial Conduct AuthorityA cryptocurrency exchange founded by the billionaire Reform UK donor Ben Delo is being sued for £20m over claims that the company mis-sold financial products in the UK.Lewis Barber, who is a software engineer, alleges that BitMEX offered crypto derivative products to investors in the UK, despite not being regulated or approved to do so by the Financial Conduct Authority (FCA). Continue reading...
