News Snapshot:
The founders of cryptocurrency exchange BitMEX have pleaded guilty to violating the Bank Secrecy Act following a lengthy litigation process with the United States Department of Justice (DOJ).. The American Arthur Hayes and Briton Hong Kong Benjamin Delo admitted to “intentionally failing to establish, implement and maintain an anti-money laundering (AML) program” on their crypto derivatives and futures exchange, BitMEX.. BitMEX is a Seychelles-based cryptocurrency trading platform that offers crypto futures, derivatives, and up to 100x margin trading. The exchange once offered its services without any know-your-customer verification (KYC) or AML procedures to Americans.. The DOJ’s February 24 announcement on...
