BitMEX Fined Additional $100 Million for Bank Secrecy Act Violations
- BitMEX has been fined an additional $100 million for violations of the Bank Secrecy Act from 2015 to 2020.
- The exchange previously agreed to pay a $110 million penalty but was deemed insufficient by the court.
- BitMEX’s parent company, HDR Global Trading Inc., will undergo a two-year probationary period.
- The firm allegedly earned worldwide revenues of approximately $1.3 billion while bypassing U.S. regulations.
- About 11.5% of BitMEX’s user base were illicitly permitted U.S. users during the violation period.
BitMEX has been ordered to pay an additional $100 million fine for failing to comply with anti-money laundering and know-your-customer regulations, despite previously agreeing to a $110 million penalty. The violations spanned from 2015 to 2020, impacting U.S. users and leading to significant legal repercussions for the exchange and its parent company.
