THELOGICALINDIAN - Global cryptocurrency derivatives barter Bitmex has acclimatized accuse with the US Commodity Futures Trading Commission CFTC and the Financial Crimes Enforcement Network FinCEN The barter has agreed to pay as abundant as 100 actor to end investigations by the two agencies
Bitmex Settles With CFTC and FinCEN
Bitmex accepted Tuesday that “it has accomplished a resolution with both the United States Commodity Futures Trading Commission (CFTC) and Financial Crimes Enforcement Network (FinCEN) in affiliation to investigations by both agencies.” The aggregation wrote:
“Today marks an important day in our company’s history, and we are actual animated to put this abaft us,” commented Bitmex CEO Alexander Höptner. “As crypto matures and enters a new era, we too accept acquired into the better crypto derivatives belvedere with a absolutely absolute user base.”
The CFTC alone appear Tuesday that “the U.S. District Court for the Southern District of New York has entered a accord adjustment adjoin bristles companies answerable with operating the Bitmex cryptocurrency derivatives trading platform.” The companies are HDR Global Trading Ltd., 100x Holding Limited, ABS Global Trading Ltd., Shine Effort Inc Limited, and HDR Global Services (Bermuda) Ltd.
FinCEN, a agency of the U.S. Department of the Treasury, additionally accepted in an advertisement Tuesday that it has adjourned a $100 actor civilian money amends adjoin Bitmex “for adamant violations of the Bank Secrecy Act” and its regulations.
“Bitmex, which operated as an unregistered futures agency merchant (FCM) and provided money manual services, foolishly bootless to accede with its obligations beneath the BSA,” FinCEN detailed. “For over 6 years, BitMEX bootless to apparatus and advance a adjustable anti-money bed-making affairs and a chump identification program, and it bootless to address assertive apprehensive activity.” This is FinCEN’s aboriginal administration activity adjoin an FCM.
The agency added:
Furthermore, FinCEN abundant that the barter “conducted at atomic $209 actor account of affairs with accepted darknet markets or unregistered money casework businesses accouterment bond services.” It additionally “conducted affairs involving high-risk jurisdictions and declared artifice schemes” and “failed to book a Apprehensive Activity Report (SAR) on at atomic 588 specific apprehensive transactions.”
Besides the civilian penalty, Bitmex has agreed to several absolute consultations to actuate if it charge book added SARs and “to ensure that adapted policies, procedures, and controls are in place.” The advertisement concludes:
What do you anticipate about Bitmex advantageous $100 actor to achieve accuse with the CFTC and FinCEN? Let us apperceive in the comments area below.
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