BREAKING: BitMEX Fined $100 Million For US Money-Laundering Violations

Name	Symbol	Market	Market Cap ($)	Algorithm
Mina	MINAUSD	Crypto	680,083,672	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Mina

MINAUSD

Crypto

680,083,672

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.011	-1.85%	0.585	0.586	0.587

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.011

-1.85%

0.585

0.586

0.587

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.597	0.581	0.596	0.596	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.597

0.581

0.596

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	01:01:31	25.66	0.585	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

01:01:31

25.66

0.585

USD

Price x Volume	Volume	Base Symbol	Related Pairs
15,090.34	25,730.29	MINA	MINAEUR	MINAGBP	MINABTC

Price x Volume

Volume

Base Symbol

Related Pairs

15,090.34

25,730.29

BREAKING: BitMEX Fined $100 Million For US Money-Laundering Violations

15/01/2025 7:31pm

NEWSBTC

Federal judge John G. Koeltl has directed BitMEX to pay a $100 million fine, representing the latest development in an ongoing legal dispute regarding money laundering infractions in the US. BitMEX Faces Major Legal Setback The legal challenges for BitMEX stem from activities between 2015 and 2020, during which the exchange reportedly failed to adhere to the United States Bank Secrecy Act (BSA). The BSA requires financial institutions to assist government agencies in detecting and preventing money laundering. Related Reading: What Bitcoin Election Patterns Could Signal For Its Price Ahead Of January 20 Inauguration Despite BitMEX’s attorneys arguing that a previous $110 million fine and earlier guilty pleas from the exchange’s founders were sufficient punishment, Judge Koeltl deemed additional financial penalties necessary. In 2022, BitMEX’s founders, Arthur Hayes, and Benjamin Delo, admitted guilt to comparable charges, with both consenting to pay a $10 million criminal penalty. Exchange Implements Enhanced KYC And AML Measures In a statement following the ruling, the company expressed disappointment over the additional financial penalty but noted that the amount was significantly lower than the Department of Justice’s (DOJ) initial demands, which exceeded $200 million during plea negotiations and rose to approximately $420 million during sentencing discussions. The exchange emphasized its commitment to compliance, stating that it has made significant improvements to its operations since the period covered by the BSA charges. This includes implementing a robust user verification program and comprehensive Know Your Customer (KYC) and Anti-Money Laundering (AML) systems. BitMEX asserts that these advancements have been recognized by users, partners, and regulatory stakeholders. Related Reading: Pundit Says Bitcoin Price Will Break Above $100,000 If This Happens “We stand firm by the statement that the BSA charge is old news,” the company remarked in its statement. BitMEX expressed a desire to move past these legal challenges and focus on innovation and service delivery for its users. The exchange aims to maintain its position as a leading, trusted, and financially stable crypto derivatives platform, continuously launching new products and innovations to meet user demands. Featured image from DALL-E, chart from TradingView.com

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