The U.S. Commodity Futures Trading Commission is currently investigating the cryptocurrency exchange BitMEX. The regulator is looking at whether BitMEX boke any rules by allowing Americans to trade on the platform, which is not registered with the commission, according to a report by Bloomberg.

The commission considers cryptocurrencies to be commodities and it has jurisdiction over any futures or derivatives based on them. The probe is currently ongoing and there has been no allegations of misconduct yet.

BitMEX's CEO Arthur Hayes claimed in January that the exchange bans U.S. residents and nationals, however it is possible that a user masked their location by using a proxy server to appear as if they came from a different country.

The exchange is based in Hong Hong, although it also has an office in San Francisco.