Long-established Cryptocurrency Exchange Admits Money Laundering Accusations: It Took 5 Years!

Cryptocurrency exchange Bit,MEX admitted to money laundering charges.

The U.S. Attorney for the Southern District of New York announced that cryptocurrency exchange Bit,MEX has pleaded guilty to violating the Bank Secrecy Act in an anti-money laundering case.

In the statement made by Damian Williams, US Attorney for the Southern District of New York, it was emphasized that Bit,MEX served in the USA between 2015 and 2020 without any anti-money laundering procedures.

Maximum 5 years imprisonment

The Prosecutor's Office stated that the crime committed and admitted by Bit,MEX would result in a maximum prison sentence of 5 years.

However, Attorney General Williams stated that Bit,MEX was a company established to evade sanctions, and emphasized that every cryptocurrency institution serving in the USA must comply with US laws:

As Bit,MEX's founders and longtime employee admitted in federal court in 2022, the company, one of the world's leading cryptocurrency derivatives platforms from 2015 to 2020, operated without a meaningful anti-money laundering program (AML) in the United States. operated. Bit,MEX has opened itself up as a vehicle for large-scale money laundering and sanctions evasion schemes, posing a serious threat to the integrity of the financial system. Today's criminal complaint shows once again that cryptocurrency companies must comply with US laws if they exploit the US market.

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