PANews reported on July 11 that according to The Block, according to a statement from the U.S. Attorney for the Southern District of New York, the cryptocurrency exchange and derivatives trading platform BitMEX admitted on Wednesday to violating the Bank Secrecy Act, a crime punishable by up to five years in prison and a fine. Damian Williams, the U.S. Attorney for the Southern District of New York, said in a statement: "As BitMEX's founders and employees admitted in federal court in 2022, the company did not implement any meaningful anti-money laundering program (AML) as required by federal law when operating in the United States. BitMEX has become a tool for large-scale money laundering and sanctions evasion schemes, posing a serious threat to the integrity of the financial system."
According to previous news, at the end of 2022, US prosecutors asked the court to sentence Greg Dwyer, former head of business development at BitMEX, to 12 months of probation for violating the Bank Secrecy Act. Earlier that year, BitMEX founder Arthur Hayes was also sentenced to six months of home detention for the same crime.