In brief
- The crypto exchange BitMEX says it's settled civil charges with the CFTC and FinCEN.
- The company agreed to pay $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 Bitcoin billionaire, turned himself in back in April, and will be tried next year.
Former BitMEX CEO Surrenders, to Face Trial in US
Arthur Hayes, who served as CEO of BitMEX up until he was charged in October with conspiracy to evade money laundering regulations, has surrendered to US authorities to face trial, according to a Bloomberg report. Hayes, who had been living in Singapore, flew to Hawaii to turn himself in before being released on $10 million bail as part of a pre-arranged deal with US prosecutors. What Does the BitMEX Indictment Mean? Crypto Twitter Reacts The former CEO will face trial in New York along with his...
Today's consent order bars BitMEX from selling certain types of crypto investment contracts in the U.S. without registering with the CFTC.
