🚨 BitMEX Fined $100 Million for AML Failures 🚨
(Today crypto news)
Cryptocurrency exchange BitMEX has been fined $100 million for failing to implement adequate anti-money-laundering (AML) and know-your-customer (KYC) programs. 💵❌ This fine, imposed on Wednesday, is much lower than the $417 million initially proposed by prosecutors.
BitMEX pled guilty to violating the Bank Secrecy Act in July and was sentenced to two years of probation in Manhattan federal court. 📜 The exchange acknowledged the fine as “old news” and assured that it had already been working on improving its user verification and AML/KYC programs before the charges. 🔒
This serves as a reminder to all exchanges to uphold strict compliance standards. ⚖️
#BitMEX #AML #CryptoNews #CryptoCompliance #CryptoIndustry
(Today crypto news)
Cryptocurrency exchange BitMEX has been fined $100 million for failing to implement adequate anti-money-laundering (AML) and know-your-customer (KYC) programs. 💵❌ This fine, imposed on Wednesday, is much lower than the $417 million initially proposed by prosecutors.
BitMEX pled guilty to violating the Bank Secrecy Act in July and was sentenced to two years of probation in Manhattan federal court. 📜 The exchange acknowledged the fine as “old news” and assured that it had already been working on improving its user verification and AML/KYC programs before the charges. 🔒
This serves as a reminder to all exchanges to uphold strict compliance standards. ⚖️
#BitMEX #AML #CryptoNews #CryptoCompliance #CryptoIndustry