BitMex charged for Evading Regulations & Anti-Money Laundering violations

BitMex charged for Evading Regulations & Anti-Money Laundering violations

By ircrp | ircrp | 1 Oct 2020


 

A breaking news coming out of the US from the Commodity Futures Trading Commision (CFTC) charging BitMex owners on 1st of October 2020 on the grounds of illegally operating Cryptocurrency Derivates Platform in the US and failure to comply with the US regulations including complying with the Anti-Money laundering practises.

BitMex has allegedly been under investigation since summer of 2019 for allowing customers from the heavy regulated US markets to use their platforms and has since introduced a more rigorous KYC checks. 

Early reports from CFTC highlights that BitMex has received some $11 billion in Bitcoin deposits and generated more than $1 billion in fees while evading the US Crypto Regulations.

 

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