BitMEX Ordered to Pay $100 Million Fine for BSA Violations
- Federal judge directed BitMEX to pay a $100 million fine for money laundering violations.
- The infractions occurred between 2015 and 2020, violating the United States Bank Secrecy Act (BSA).
- BitMEX’s founders, Arthur Hayes and Benjamin Delo, previously paid a $10 million criminal penalty each in 2022.
- The Department of Justice initially sought fines exceeding $200 million, later rising to approximately $420 million.
- BitMEX has since enhanced its Know Your Customer (KYC) and Anti-Money Laundering (AML) measures.
Judge Koeltl imposed a $100 million fine on BitMEX for failing to comply with the BSA between 2015 and 2020. The exchange has improved its KYC and AML systems following these legal challenges.
