- BitMex crypto exchange agreed to pay $100 million to settle allegations.
- The exchange agreed to pay charges to CFTC and FinCEN.
BitMex crypto exchange agreed to pay $100 million to settle allegations.
On Tuesday, one of the world’s largest trading platforms for crypto derivatives said it would pay $100 million to settle allegations with the Commodities Futures Trading Commission (CFTC) and Financial Crimes Enforcement Network (FinCEN).
As a result, this is one of the biggest agreements ever against a crypto exchange as regulators tighten the security in the crypto industry.
Based on reports, the crypto exchange allowed years of illegal trades. This means it violated anti-money laundering rules. According to CFTC, BitMEX broke laws by letting U.S. residents trade cryptos from November 2014 to October 2020.
In addition, the settlement orders BitMEX to pay $50 million to the CFTC. Also, th...