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BitMEX has been hit with an additional financial penalty following its 2022 guilty plea for violating the US Bank Secrecy Act.
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A federal judge has sentenced HDR Global Trading Limited, also known as the parent company of cryptocurrency exchange BitMEX, to two years of unsupervised probation and a $100 million fine.
In a Jan. 15 hearing in the US District Court for the Southern District of New York, Judge John Koeltl passed down the sentence against BitMEX, roughly six months after the crypto exchange pleaded guilty to violating the US Bank Secrecy Act by operating without “any meaningful” Anti-Money Laundering program. The crypto firm called the charges “old news” in July 2024, suggesting at the time it expected no additional fines.
In a statement to its users after the judgment, BitMEX said:
“Whilst we are disappointed to learn of the imposition of an additional financial penalty, the amount is substantially less than what the Department of Justice have been pursuing us for over 3 years.”
The court dismissed all open counts against the crypto exchange as part of the sentencing hearing at the request of the US government.
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
