Enhancing the BitMEX Compliance Programme with Kharon

We’ve been steadily enhancing our compliance programme as the crypto derivatives sector evolves. The latest step comes in the form of a new partnership with Kharon, a research and data analytics company, to strengthen our customer due diligence process and enhance screening for OFAC-sanctioned entities and other related parties. 

In doing so, we are making our know-your-customer programme even better, which is part of our ongoing efforts to add the best vendors and solutions to ensure our screening process stays ahead of the curve. We are proving it can be done while maintaining top-tier liquidity and excellent trading performance.   

Quite simply, Kharon allows us to quickly and accurately identify whether or not the subject of a search is tied to a sanctioned entity, adding to our existing resources.

Malcolm Wright, Chief Compliance Officer of 100x Group, said: “We continue to pursue new technical solutions through which we can strengthen the integrity of BitMEX’s KYC program and better mitigate risk for the benefit of all our users. The addition of Kharon will give us more advanced screening processes to detect and prevent bad actors from accessing our platform.”  

Howard Mendelsohn, Chief Client Officer, Kharon, said: “Companies require access to current, accurate, and risk-relevant data to inform KYC evaluation and decision-making. We are glad to bring our data and analytics solutions to BitMEX, supporting them in their efforts to continue to set screening benchmarks for virtual asset service providers.”  

BitMEX is the largest crypto derivatives exchange with a fully verified user base following the successful implementation of its KYC programme in 2020.

Please contact Support if you have any further queries.