BitMEX hit with an additional penalty following its 2022 guilty plea

2025-1-16 22:32

BitMEX fined $100M for AML violations following a guilty plea in 2022. The US court also ordered a two-year probation for the exchange.

The operator of BitMEX cryptocurrency exchange, HDR Global Trading Limited, has been ordered to pay a $100 million fine following BitMEX’s guilty plea in 2022 for violating the US Bank Secrecy Act.

Besides the fine, the sentence handed down on January 15, 2025, by Judge John Koeltl of the US District Court for the Southern District of New York, also included two years of unsupervised probation for the exchange.

The charges stem from BitMEX’s operation without a meaningful Anti-Money Laundering (AML) program.

In 2020, the CFTC charged BitMEX owners with illegally operating a cryptocurrency derivatives trading Platform and anti-money laundering violations. BitMEX introduced AML checks on the platform and pleaded guilty to the charges in 2022.

However, in early 2023, BitMEX was hit with a new lawsuit filed by BMA LLC, claiming that BitMEX had been illegally offering services to users in the US through ABS Global, which is wholly controlled and operated by HDR, despite being unregistered as a money-transmitting company.

While the court recognized this violation during the hearing, all other counts against the exchange were dismissed at the request of the US government.

In a statement to its users after the court issued the sentence, BitMEX expressed disappointment over the additional financial penalty. However, the company noted that the fine was significantly lower than what the Department of Justice had been seeking over the past three years.

The sentencing marks another chapter in the regulatory crackdown on cryptocurrency platforms. It highlights the importance of compliance with US banking laws, especially concerning anti-money laundering practices.

This case serves as a reminder to other crypto entities about the legal risks of non-compliance.

The post BitMEX hit with an additional penalty following its 2022 guilty plea appeared first on CoinJournal.

origin »

Safe Exchange Coin (SAFEX) на Currencies.ru

$ 0.0054306 (-0.25%)
Объем 24H $1.742k
Изменеия 24h: 1.41 %, 7d: -8.63 %
Cегодня L: $0.0053635 - H: $0.0055227
Капитализация $6.099m Rank 99999
Доступно / Всего 1.123b SAFEX

bitmex following 2022 plea guilty exchange ordered

Источник: coinjournal.net

bitmex following → Результатов: 77


Bitmex Integrates Financial Market Data Management Platform, Refinitiv, to Enhance Compliance

BitMEX derivatives exchange adds the Refinitiv World-Check One to its suite of tools used by the exchange for its compliance procedures. Following a testing period earlier in the year with top executives charged with money laundering, racketeering, and market manipulation, BitMEX is turning a leaf in its compliance procedures.

2020-11-19 19:52


BitMEX Now Former CTO, Samuel Reed, Released On A $5 Million Unsecured Bond

Troubled BitMEX exchange executive Samuel Reed released on a $5 million bond paid to the district of Massachusetts court following his arrest on October 1. According to a document first shared by The Block, the court approved the unsecured bond payment on October 3rd on condition that Samuel Reed will show up to court and […] The post BitMEX Now Former CTO, Samuel Reed, Released On A Million Unsecured Bond first appeared on BitcoinExchangeGuide.

2020-10-9 20:22


Kucoin’s Hackers Identified With ‘Substantial Proof’ in $280M Theft, Law Enforcement Involved

Kucoin announced through its CEO Johnny Lyu that they have found the hackers who compromised close to $280 million of the exchange’s funds in last week’s hack. Lyu tweeted this update over the weekend as crypto markets struggled in the red zone following the Kucoin hack, BitMEX indictments, and the news of President Trump contracting […] The post Kucoin's Hackers Identified With 'Substantial Proof' in 0M Theft, Law Enforcement Involved first appeared on BitcoinExchangeGuide.

2020-10-5 16:16


Фото:

Bitcoin Shows Remarkable Strength Despite Growing List of Bearish Events

Bitcoin’s price saw a decent recovery following the BitMEX imbroglio yesterday, but the cryptocurrency’s reverted most of these gains overnight due to news of President Trump contracting the lethal virus This news sent shockwaves throughout the traditional markets as well, and appears to be having a trickledown effect on BTC as well as altcoins Where the aggregated crypto market trends in the days, weeks, and months ahead will likely depend largely on the global markets […]

2020-10-3 21:00


Фото:

BitMEX Open Interest Collapses Following $25m Bitcoin Liquidation Spree; What This Means

Bitcoin’s recent volatility has led open interest on trading platforms like BitMEX to plummet This has come about amidst a bout of choppy price action, which has led to a massive amount of position liquidations amongst margin traders It is possible that these liquidations are causing more and more traders to move to the sidelines This could lessen BTC’s day-to-day volatility and help it push past $10,000 Bitcoin has seen some volatility in recent times, […]

2020-6-9 02:00


BitMEX выделила грант на $100 000 биткоин-разработчику Глебу Науменко

Оператор биржи криптовалютных деривативов BitMEX компания HDR Global Trading выделила грант в размере $100 000 разработчику Chaincode Labs и Bitcoin Core Глебу Науменко. Bitcoin developer grant provided to Gleb Naumenko HDR Global Trading are delighted to announce that a US$100,000 grant has been awarded to Bitcoin contributor and researcher @ffstls Following on from @fanquake, Gleb is the 2nd granteehttps://t.

2020-6-4 13:23


Why BitMEX is Back Under Scrutiny Following Bitcoin’s Rejection at $10.4k

Following Bitcoin’s brutal dump at $10. 4k, the inquest into what went wrong is taking place now. Theories regarding whale manipulation consistently make the rounds during such times. But a more tangible explanation alleges that manipulation at derivatives trading platform BitMEX contributed heavily to the losses sustained yesterday.

2020-6-4 16:36


$75 million liquidated: Bitcoin’s power move leaves trail of destruction for bears

Bitcoin saw an explosive upside movement earlier today that caught the cryptocurrency’s bears off-guard, leading to over $75 million in positions to be liquidated. Open interest (OI) on popular crypto trading platform BitMEX has also plunged in the time following this movement, with the freshly liquidated positions apparently leading many traders to move to the […] The post $75 million liquidated: Bitcoin’s power move leaves trail of destruction for bears appeared first on CryptoSlate.

2020-4-25 08:00


Аналитики BitMEX опубликовали «Ethereum-шорты», намекнув о снижении цены криптовалюты

Исследовательское подразделение деривативной биржи BitMEX сделало несколько необычный прогноз по цене второй по капитализации криптовалюты, опубликовав «Ethereum-шорты». When we made our 2020 predictions, we didn’t mention $ETH Now 2020 is here, following @udiWertheimer ‘s advice & despite the cold, we are about to put on our $ETH shorts The challenging part will be knowing when […]

2020-1-7 12:27


дальше еще 28 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

USUAL token price soars after Binance Labs investment

Binance Labs has revealed its investment in the $10 million Series A USUAL funding round. Following the revelation, the USUAL token price has soared by over 20%. Another key player that participated in the funding round is Kraken.