According to TechFlow, the cryptocurrency exchange BitMEX admitted on Wednesday that it had violated the Bank Secrecy Act and failed to establish an adequate anti-money laundering program. Prosecutors for the Southern District of New York said that the founders and employees of BitMEX admitted in 2022 that the company did not comply with anti-money laundering regulations when operating in the United States between 2015 and 2020.
BitMEX faces up to five years in prison and a fine. The incident once again highlights the importance of cryptocurrency companies complying with anti-money laundering regulations.
