Judge orders BitMEX to pay $100M fine over US banking law violations
BitMEX has been hit with an additional financial penalty following its 2022 guilty plea for violating the US Bank Secrecy Act.
A federal judge has sentenced HDR Global Trading Limited, also known as the parent company of cryptocurrency exchange BitMEX, to two years of unsupervised probation and a $100 million fine.
In a Jan. 15 hearing in the US District Court for the Southern District of New York, Judge John Koeltl passed down the sentence against BitMEX, roughly six months after the crypto exchange pleaded guilty to violating the US Bank Secrecy Act by operating without “any meaningful” Anti-Money Laundering program. The crypto firm called the charges “old news” in July 2024, suggesting at the time it expected no additional fines.
In a statement to its users after the judgment, BitMEX said:
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Author: Turner Wright
