BitMEX Hit With $100M Fine Over Bank Secrecy Act Violations

Global crypto exchange BitMEX was slapped with a $100 million fine on Wednesday. A Manhattan federal judge confirmed that the exchange violated the Bank Secrecy Act by “willfully failing” to establish US anti-money laundering (AML) rules. Per the official statement from the U.S. Department of Justice, the company had ignored AML laws to boost its revenue. This is the latest verdict in the exchange’s long-standing saga over AML violations. BitMEX pleaded guilty to violations in July 2024, and has already paid $110 million in civil and criminal penalties. The exchange’s founder Arthur Hayes also received a six-month home detention sentence after his guilty plea.

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