BitMEX, a major cryptocurrency derivatives platform, was found to have operated in the United States without a proper anti-money laundering program, as required by federal law. The company’s founders and long-time employee admitted this in federal court in 2022. This lack of compliance opened the door for potential money laundering and sanctions evasion schemes, posing a significant threat to the financial system’s integrity. U.S. Attorney Damian Williams emphasized the importance of cryptocurrency companies following U.S. law if they wish to operate in the U.S. market. The guilty plea serves as a reminder of the consequences of failing to comply with regulations in the cryptocurrency industry.
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