Two years ago, the Commodity Futures Trading Commission, Department of Justice and the Financial Crimes Enforcement Network (FinCEN) slapped BitMex with civil and criminal charges after the firm allowed U.S. residents to trade crypto derivatives on its platform without being registered in the states or having substandard KYC practices. Although the agencies later settled with BitMEX for $100 million last summer, the charges resulted in a change of leadership at the exchange.
Source: https://www.coindesk.com/policy/2022/08/08/bitmex-executive-pleads-guilty-to-violating-anti-money-laundering-act/?utm_medium=referral&utm_source=rss&utm_campaign=headlines