Cryptocurrency Exchange BitMEX Pleads Guilty to Violating Bank Secrecy Act

Published on July 11, 2024

Cryptocurrency exchange BitMEX has pleaded guilty to one count of violating the Bank Secrecy Act for failing to establish, implement, and maintain an adequate anti-money laundering program, the Department of Justice (DOJ) announced on July 10. HDR Global Trading Limited, an entity registered in the Republic of Seychelles that owns the cryptocurrency exchange, entered the guilty plea in the U.S. District Court for the Southern District of New York. BitMEX called the charge “old news,” highlighting in a statement  that the same charge was brought in 2020 against its founders relating to BitMEX’s operations up to September 2020. “Our founders accepted this and were sentenced back in 2022,” the company said. “BitMEX has long since fully remediated its operations, and there is nothing new in this charge. ”...

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