BitMEX fined $100 million in the U.S.

The U.S. Department of Justice has fined the operator of the cryptocurrency derivatives exchange BitMEX, HDR Global Trading Limited, $100 million for violating the Bank Secrecy Act. This was reported by the department's press service.

It is known that the managing firm did not develop or implement an effective anti-money laundering (AML) program and "Know Your Customer" (KYC) procedures.

"It is extremely important for all financial institutions, including cryptocurrency exchanges, to comply with these rules to protect the economy and national security of our country. The sentence sends a clear message that companies that intentionally violate these norms ... will face consequences," said Matthew Podolsky, the U.S. Attorney for the Southern District of New York.

BitMEX was founded in 2014. For a long time, the exchange served clients from the U.S. and conducted operations through offices in the country without registration with the CFTC and without implementing AML programs.