BitMEX has announced it has reached a resolution with both the US Commodity Futures Trading Commission (CFTC) and Financial Crimes Enforcement Network (FinCEN) after both watchdogs initiated investigations against it. As part of the agreement, BitMEX will pay $100 million to resolve the charges, the company said in an official announcement.
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BitMEX CEO, Alexander Höptner, said the exchange wants to ensure that it plays a "positive role in helping to shape the future of this extraordinary asset class."
"Today marks an important day in our company’s history, and we are very glad to put this behind us," Höptner added.
The settlements follow the CFTC lawsuit against BitMEX in October 2020. Back then, the watchdog accused the exchange in violations of the Bank Secrecy Act and commodities laws. Particularly, CFTC found that BitMEX offered US investors leveraged and unlicensed crypto products between 2014 and 2020.
The watchdog also found that BitMEX violated multiple requirements, including failing to implement required anti-money laundering procedures.
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