Public announcements from regulatory bodies such as the CFTC or SEC

BitMEX Fined $100 Million by U.S. Judge for Bank Secrecy Act Violations, Sentenced to 2 Years Probation

Jan 15, 2025, 08:08 PM

BitMEX, a global cryptocurrency exchange operated by HDR Global Trading Ltd, has been fined $100 million by U.S. District Judge John Koeltl for violating the Bank Secrecy Act. The fine follows BitMEX's guilty plea in July 2024 for failing to establish and maintain adequate anti-money laundering (AML) and know-your-customer (KYC) programs between 2015 and 2020. The company, which was required to register with the Commodity Futures Trading Commission (CFTC), was also sentenced to two years of probation. BitMEX founders Arthur Hayes, Benjamin Delo, Samuel Reed, and former executive Gregory Dwyer had previously pleaded guilty to similar charges. This penalty comes after BitMEX had agreed to pay $110 million in earlier fines, but the court deemed additional punishment necessary.