BitMEX has today confirmed that it has reached a resolution with both the United States Commodity Futures Trading Commission (CFTC) and Financial Crimes Enforcement Network (FinCEN) in relation to investigations by both agencies.
BitMEX agreed to pay as much as US$100 million to resolve the charges.
Alexander Höptner, Chief Executive Officer of BitMEX, said: “Today marks an important day in our company’s history, and we are very glad to put this behind us. As crypto matures and enters a new era, we too have evolved into the largest crypto derivatives platform with a fully verified user base. Comprehensive user verification, robust compliance, and anti-money laundering capabilities are not only hallmarks of our business – they are drivers of our long-term success.”
He added: “We take our responsibilities extremely seriously, and will continue to actively engage with regulators around the world to ensure that we play a positive role in helping to shape the future of this extraordinary asset class.”
BitMEX is currently embarking on an ambitious business transformation under its ‘Beyond Derivatives'(https://blog.bitm
In 2020 and 2021, BitMEX made significant progress in areas of user verification, compliance, and market integrity. Milestones include:
Late 2019 – Initiated KYC Build-out
We started to put in place the technology needed to scale up comprehensive know-your-customer capabilities.
August 2020 – Launched User Verification Process
October 2020 – Hired Chief Compliance Officer Malcolm Wright
November 2020 – Added Partners to Boost Anti-Financial Crime, Trade Surveillance, and AML Capabilities
We announced the addition of Refinitiv World-Check One(https://blog.bitmex.com/ad
December 2020 – Hired CEO Alex Höptner
January 2021 – Announced Completion of the BitMEX User Verification Programme
We also deepened our integration(https://blog.bitme
February 2021 – Appointed Wai Kin Chim as Independent Non-Executive Board Director
March 2021 – Strengthened our Customer Due Diligence and Screening for Sanctioned Entities
April 2021 – Announced Plans for Spot, Brokerage, Custody, Information Products, and Academy
We announced our ‘Beyond Derivatives'(https://blog.bitm
July 2021 – Reflected on Positive Impact of User Verification Programme
Six months after the completion of our user verification programme, we published(https://blog.bitmex.
To learn more about BitMEX, our vision, growing team, and the road ahead, please follow us on Twitter(https://twitter.com/Bi
For further inquiries, please contact firstname.lastname@example.org