Cryptocurrency exchange BitMEX was fined $100 million for failing to maintain an adequate anti-money-laundering and know-your-customer program. The fine imposed on BitMEX on Wednesday was lower than the $417 million prosecutors argued for late last year.

The cryptocurrency exchange BitMEX has been fined $100 million for deliberately ignoring U.S. anti-money laundering laws in order to boost revenue, the U.S. Department of Justice said on Wednesday. BitMEX,

BitMEX was ordered to pay a $100 million fine Wednesday following a years-long legal battle over money-laundering violations in the U.S.

BitMEX has been fined $100 million for failing anti-money laundering laws and KYC procedures, with founders pleading guilty and emphasizing the need for financial institutions to adhere to such regulations.

BitMEX ordered to pay $100M fine for violating US money laundering laws, marking the end of a lengthy legal battle.

Pioneering cryptocurrency exchange BitMEX was ordered by a judge to pay a $100 million fine for violating US anti-money laundering law, capping one of the first big criminal enforcement cases targeting the crypto market.

BitMEX, a prominent cryptocurrency exchange, was ordered to pay an additional $100 million fine for violating the U.S. Bank Secrecy Act (BSA) between 2015 and 2020.

The U.S. Department of Justice noted that BitMEX violated the Bank Secrecy Act by “willfully failing” to establish US AML rules.

The case against BitMEX is one of the last to be resolved by the US Justice Department as the Joe Biden administration winds down.

Prosecutors accuse BitMEX and its founders of failing to adopt anti-money-laundering and “know your customer” programmes.

BitMEX fined $100M, prosecutors sought return of Bitfinex funds, Mango Markets shut, a Web3 attack method; pastor charged in crypto scam, CFPB proposed