Bitmex shuts down in Quebec

[hongkongkingkong]

"BitMEX is working to transition certain users to close open positions and accounts. Québec residents and users located in Québec (“Affected Users”) will no longer be able to deposit funds or open new positions on BitMEX as of June 30th, 2018, and from that date, BitMEX will block access for any new Affected Users. Affected Users with accounts opened prior to June 30, 2018 will still be able to access their account to close any open positions and withdraw funds until September 30th, 2018. Any positions remaining open after this time will be forced closed in the market at the prevailing market rate. Affected Users will still be able to withdraw their funds after this time.

If this notice applies to you as an Affected User, please review your account, close any open positions, and withdraw all your funds before September 30th, 2018.

The BitMEX Team"

I only have but one question.... : WHY!?

[1714795709]

1714795709

[1714795709]

1714795709

[1714795709]

1714795709

[magneto]

There's no explanation that comes with that decision.

However, it's not really that surprising considering the fact that Bitmex also bans a lot of other countries from accessing it, including the US. This decision was probably made from a regulatory point of view, where they don't want to face legal pressures by offering their services in a particular city that has these regulations.

It could potentially be the new regulations from Canada: https://news.coinsquare.com/government/regulation-for-crypto-businesses/. But why would it only apply to Quebec? I don't know honestly. Just get your money out if you're in that city.