Alexander Hoeptner, CEO of “BitMEX” emphasized that with the evolution of technology, the modern civilization more than ever needs to live and conduct operations by the rules. This statement inflamed a debate to have discussions with authorities about regulating crypto companies. This statement occurs at the time when former CEOs of BitMex were about to face a court hearing. The current CEO, Alexander Hoeptner, emphasized the BitMEX needs to follow business ethics about abiding by the law.
BitMEX is a peer-to-peer cryptocurrency company, which deals with derivative trading as well. During an interview on CoinDesk, he said that the company learned a lot from its past. The goal is to focus on the rule of law no matter in which business we operate. He further said he is not allowed to share insights about his discussions with regulators about cryptocurrency trading.
Like Alexander, many other CEOs voiced in favor of detailed and meaningful discussions with authorities about digital assets and blockchain. It is the mutual responsibility of both stakeholders to educate people and potential investors about the global crypto market and what changes to happen in the future. The cryptocurrencies community needs to initiate the step to educate people, he said.
Hoeptner is currently working as CEO of 100x Group and the BitMEX platform. As the name suggests, this platform allows crypto investors to force their investment up to 100 times. It gives investors a huge opportunity to bang profits in case of fluctuation in the crypto market.
He said that crypto trading is on the horizon. Entering the U.S. market is a big step. But focusing on trading by the rules is an even greater goal for the business organization. BitMEX has simplified its business policy by stating that the company only deals with prices in Bitcoin rather than offering exchange in any other medium.
Bitcoin experts and some social-media influencers have supported BitMEX in simplifying their business policy. Hoeptner believes that providing proper market insights and exchange information to the public will help the cryptocurrency market. The market will gain the interest of an overwhelming majority. BitMEX also offers a margin trading option with the possibility of 100 times leverage. That means a person with a deposit of $10,000 can trade $100,000 worth of BTC.
In addition to that company also decided to publish its reports on the bitcoin and blockchain digital ecosystem more frequently. Earlier in Oct 2020, a case was filed against BitMEX by the U.S. Attorney Office. Former CEOs were held responsible for breaching the Bank Secrecy Act. The new CEO has changed the company’s way of doing business and how to deal with regulatory authorities.