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On Wednesday, the U.S. Department of Justice announced that BitMEX has pleaded guilty to violating the Bank Secrecy Act .
U.S. Attorney Damian Williams stated, “As BitMEX’s founders and long-time employee admitted in federal court in 2022, the company, one of the leading cryptocurrency derivatives platforms in the world from 2015 to 2020, operated in the United States without any meaningful anti-money laundering program, as required by federal law.”
In the same sentiment, FBI Acting Assistant Director in Charge Christie M. Curtis stated, “By only mandating lax service access credentials, BitMEX not only failed to comply with nationally required anti-money laundering procedures designed to protect the US financial markets from illicit actors and transactions, but knowingly did so to increase the business’s revenue.”
The prosecution will be managed by the U.S. Attorney’s Office’s Illicit Finance and Money Laundering Unit, with the company’s co-foundersAccording to court documents and statements, BitMEX, which serviced and solicited business from U.S. traders and operated through U.S. offices, was required to register with the CFTC and establish an adequate AML program. Such programs are essential to prevent financial institutions from being exploited illegally.
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