Cryptocurrency derivatives exchange Bitmex will be restricting access to users from Ontario, Canada, starting the beginning of next month. The company says the restrictions are mandated by the Ontario Securities Commission (OSC).

Bitmex Stops Servicing Users in Ontario

Bitmex, a cryptocurrency derivatives trading platform that offers up to 100x leverage, announced Monday that it will be restricting access to residents of Ontario, Canada.

Starting Sept. 1, “we are restricting access to users who are Ontario (Canada) residents,” the exchange wrote. Affected users will be unable to place orders for new positions or to increase existing positions. Open positions will continue in accordance with the company’s terms for the relevant contract. However, they must be closed by Jan. 4, 2021, at the latest. Any position still open at that time will be forced closed, the exchange warned.

New customers who are Ontario residents will not be able to register on the platform after Sept. 1. Any attempt to register or trade on the exchange after…

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