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BitMEX, HDR Global Trading Limited, Pleads Guilty to Violating Bank Secrecy Act

Jul 10, 2024, 08:30 PM

Global cryptocurrency exchange BitMEX, operated by HDR Global Trading Limited, has pled guilty to violating the Bank Secrecy Act. The company admitted to operating without an adequate anti-money laundering (AML) program. The case is overseen by U.S. District Judge John G. The guilty plea highlights significant regulatory challenges within the cryptocurrency industry.

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Markets

Will BitMEX experience a significant drop in trading volume by the end of 2024?

BitMEX•HDR Global Trading Limited•Bank Secrecy Act

Resolution / Starting Odds

No • 50%

Yes • 50%

Official trading volume reports from BitMEX or major cryptocurrency market analytics platforms

Will BitMEX face additional regulatory fines by the end of 2024?

BitMEX•HDR Global Trading Limited•Bank Secrecy Act

Resolution / Starting Odds

No • 50%

Yes • 50%

Official announcements from regulatory bodies such as the U.S. Department of Justice or the Commodity Futures Trading Commission

Will BitMEX implement a new AML program by the end of 2024?

BitMEX•HDR Global Trading Limited•Bank Secrecy Act

Resolution / Starting Odds

Yes • 50%

No • 50%

Official announcements from BitMEX or HDR Global Trading Limited

Which entity will take additional regulatory actions against BitMEX by the end of 2024?

BitMEX•HDR Global Trading Limited•Bank Secrecy Act

Resolution / Starting Odds

Other international regulators • 25%

No additional actions • 25%

U.S. Department of Justice • 25%

Commodity Futures Trading Commission • 25%

Official announcements from regulatory bodies such as the U.S. Department of Justice, Commodity Futures Trading Commission, or other international regulators

Will BitMEX appoint a new CEO by the end of 2024?

BitMEX•HDR Global Trading Limited•Bank Secrecy Act

Resolution / Starting Odds

Yes, internal promotion • 25%

No, but interim CEO appointed • 25%

No, current CEO remains • 25%

Yes, external hire • 25%

Official announcements from BitMEX or HDR Global Trading Limited

Will BitMEX enter into a major partnership with another financial institution by the end of 2024?

BitMEX•HDR Global Trading Limited•Bank Secrecy Act

Resolution / Starting Odds

No major partnership • 25%

Yes, with a traditional bank • 25%

Yes, with another cryptocurrency exchange • 25%

Yes, with a fintech company • 25%

Official announcements from BitMEX or HDR Global Trading Limited

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