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Seeking Alpha 2021-08-10 22:01:24

Cryptocurrency platform BitMEX to pay $100M to settle FinCEN, CFTC charges

Cryptocurrency platform BitMEX to pay $100M to settle FinCEN, CFTC charges

BitMEX, a cryptocurrency derivatives trading platform, agrees to pay $100M to resolve charges to resolve charges that the company conducted certain significant assets of its business from the U.S. and unlawfully accepted orders and funds from U.S. customers. The Seychelles-based company confirms that it reached a resolution with the Commodities Futures Trading Commission and the Financial Crimes Enforcement Network (FinCEN). "Cryptocurrency trading platforms conducting business in the U.S. must obtain the appropriate registration, and must implement robust Know-Your-Customer and Anti-Money Laundering procedures," said Vincent McGonagle, acting director of enforcement at the CFTC. On Aug. 9, Circle agreed to pay more than $10M to settle SEC charges on Poloniex securities case.

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