Once again, the early days of a pioneering cryptocurrency exchange are coming back to haunt it.
The courtroom saga of BitMEX, a pioneering cryptocurrency exchange, continues on, as the Department of Justice announced on Wednesday that the firm pled guilty to one count of Bank Secrecy Act violations.Companies in the blockchain space skirted laws requiring them to check the identities and backgrounds of their users in the early days when it seemed like no one was paying attention.
U.S. agencies are paying attention now, and they are aggressively reviewing those early practices, as we've seen again and again recently.The Bank Secrecy Act requires that financial firms make a check of its users to make sure they are not, in some way, bad actors.
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