BitMEX Fined $1 Billion for Violating US Bank Secrecy Act

BlockBeats News, January 16th, according to Bloomberg, BitMEX has been ordered by a judge to pay a $100 million fine for violating U.S. anti-money laundering laws. It is reported that after BitMEX admitted to violating the Bank Secrecy Act in July, U.S. District Judge John Koeltl imposed the fine on it this past Wednesday. The Bank Secrecy Act requires security measures, including verifying customer identities and preventing money laundering.

As the Biden administration's term comes to an end, the case against BitMEX is one of the last cases resolved by the U.S. Department of Justice.