Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

BitMEX Settles Civil Charges With CFTC, FinCEN for $100 Million

1 min read

BitMEX Settles Civil Charges With CFTC, FinCEN for $100 Million

The cryptocurrency exchange BitMEX has reached a $100 million settlement with the Commodity Futures Trading Commission and Financial Crimes Enforcement Network, according to a statement from the company.

This past fall, BitMEX was charged with intentionally evading U.S. regulations. Like most other popular crypto exchanges, BitMEX has its headquarters overseas; regulators alleged that the company allowed U.S. traders to use its platform without fully complying with anti-money laundering and know-your-customer requirements. In failing to collect certain identifying information about its customers, BitMEX violated the Bank Secrecy Act, according to the CFTC.

The exchange may have dealt with these civil charges from the CFTC and FinCEN, but there’s also a separate, ongoing criminal case against top BitMEX executives. “U.S. vs. Hayes et al.” remains in full swing: Arthur Hayes, once the CEO of BitMEX and a BTC billionaire, turned himself in back in April, and will be tried next year.

Former BitMEX CEO Surrenders, to Face Trial in US

Today’s consent order bars BitMEX from selling certain types of crypto investment contracts in the U.S. without registering with the CFTC.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

Leave a Reply

Your email address will not be published. Required fields are marked *