A Laundry List of Compliance Failures Landed BitMEX a $100M Penalty from CFTC and FinCEN

In a recent assessment, CFTC and FinCEN found the virtual currency exchange BitMEX lacked a number of licenses and had inadequate KYC, AML and CIP practices, among other infractions. The exchange incurred a $100 million penalty as a result. with contributing authors Jessica Hillier and Amanda Bonello On August 10, 2021, the Commodities Futures Trading [...] The post A Laundry List of Compliance Failures Landed BitMEX a $100M Penalty from CFTC and FinCEN appeared first on Corporate Compliance Insights. (This is only a summary. Click on the headline to view the entire article at Corporate Compliance Insights and participate in…