🚨Crypto exchange BitMEX pleads guilty to violating the Bank Secrecy Act!🚨 From 2015 to 2020, BitMEX allegedly failed to establish an adequate KYC and AML program, leading to charges of offering illicit crypto derivative trading services to U.S. customers. The DOJ claims BitMEX allowed anonymous trading, making it a hotbed for money laundering and sanctions violations.💼

BitMEX's founders and a long-time employee admitted to operating without a meaningful AML program, which U.S. Attorney Damian Williams says opened the platform to large-scale money laundering and sanctions evasion schemes. This guilty plea highlights the need for crypto companies to comply with U.S. law.⚖️

BitMEX also admitted to lying to a foreign bank to open an account for a shell company, further violating the BSA. The charges against BitMEX were filed four years after similar charges against its executives. Sentencing is yet to be determined.🔍

What do you think this means for the future of crypto exchanges? Share your thoughts below!👇 #BitMEX #CryptoNews