BitMEX Execs Plead Guilty: Years Of Money Laundering Exposed

BitMEX Execs Plead Guilty: Years Of Money Laundering Exposed


Once an icon in the field of digital asset exchanges, BitMEX has unexpectedly turned guilty to a charge of violating the Bank Secrecy Act (BSA). This event is felt across the bitcoin community. The plea, a biting indictment of the platform’s operations, exposes a sinister world in which inadequate anti-money laundering (AML) rules clearly defied US financial regulations.

Prosecutors presented a picture of a business that aggressively wooed American consumers even as it claimed to be pulling out of the American market in 2015. BitMEX became a possible refuge for illegal financial activity thanks to a fragile façade of compliance, hiding a reality where little identity verification and a reckless attitude towards regulatory control let BitMEX grow.

US Attorney Damian Williams stated that BitMEX has

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