BitMEX hit with additional $100 million fine over Bank Secrecy Act violations: report
Powered by @unfolded- BitMEX has been fined an additional $100 million for violations of the Bank Secrecy Act, bringing its total penalties to $210 million after a previous $110 million fine.
- The violations occurred between 2015 and 2020, during which BitMEX failed to implement adequate anti-money laundering measures and allowed U.S. users on its platform without proper registration.
- U.S. District Judge John G. Koeltl deemed the initial penalties insufficient, noting that BitMEX generated approximately $1.3 billion in revenue while circumventing U.S. regulations.
- BitMEX's parent company, HDR Global Trading Inc., will also be subject to a two-year probationary period following the guilty plea.