BitMEX agrees to pay $100 million in settlement of U.S. authorities' claims

Cryptocurrency derivatives exchange BitMEX announced today that it has reached a settlement with the Commodity Futures Trading Commission (CFTC) and the U.S. Financial Crimes Enforcement Network (FinCEN). As part of the settlement, the exchange agreed to pay $100 million.
"Today is an important day in our company's history, and we are very happy to put this whole situation behind us," said BitMEX CEO Alexander Heptner. - As the cryptocurrency industry has evolved and entered a new era, we too have grown into the largest crypto derivatives platform with a fully verified user base. Comprehensive user verification, robust legal compliance measures and anti-money laundering capabilities are not only iconic features of our business, but also drivers of long-term success."

BitMEX agrees to pay $100 million in settlement of U.S. authorities' claims

BitMEX was founded in 2014 by Arthur Hayes, Ben Deal and Samuel Reed. On Oct. 1, 2020, U.S. authorities charged them with violating bank secrecy laws, including insufficient anti-money laundering measures, after which the exchange's management completely changed. BitMEX, which had ignored most existing laws in the past, decided to verify all users, and Heptner took a course to cooperate with regulators. The trial of the exchange's former managers on criminal charges brought by the Justice Department is due to take place in March 2022. BitMEX's latest publication makes no mention of the circumstances surrounding them.
"We take our own commitments with extreme seriousness and will continue to actively engage with regulators around the world to play an active role in shaping the future of this outstanding asset class," Heptner added.
The company also noted that it is currently pursuing its "Beyond Derivatives" strategy, in which it is exploring areas such as spot market, brokerage, storage, information products and training, and has already made key appointments for each.
FX24

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