By Aaron Nicodemus2024-07-12T16:57:00
The parent company of crypto-trading platform BitMEX is again facing charges of violating the Bank Secrecy Act (BSA), the latest in a string of punishments against the company and its founders for failing to implement adequate know your customer and anti-money laundering (AML) programs.
HDR Global Trading, incorporated on the island of Seychelles, pled guilty to one count of violating the BSA, the Department of Justice (DOJ) announced in press release Wednesday.
From 2015-20, BitMEX operated a cryptocurrency trading platform “without any meaningful [AML] program,” as required by the BSA, the DOJ said.
2025-01-29T15:11:00Z By Aaron Nicodemus
The Seychelles-based owner of cryptocurrency exchange KuCoin has agreed to pay nearly $300 million in penalties–and cease doing business in the U.S. for two years–to settle charges that it failed to properly monitor potential criminal activity on its network.
2024-12-02T22:55:00Z By Aaron Nicodemus
In striking down penalties against cryptocurrency mixer Tornado Cash for violating U.S. sanctions, a federal appeals court may have started to chip away at anti-money laundering regulations established by Democrats even before President-elect Donald Trump takes office.
2024-08-12T17:28:00Z By Aaron Nicodemus
Manfred Bekeris, chief compliance officer at cypto peer-to-peer network Paxful, sat down with Compliance Week to talk about joining the company shortly before its former chief operating officer and co-founder pled guilty to violating the Bank Secrecy Act.
2025-07-24T15:33:00Z By Aaron Nicodemus
Recent enforcement actions by U.S. agencies overseeing customs payments and export control laws indicate increased scrutiny of business transactions between U.S. and Chinese companies.
2025-07-22T17:42:00Z By Ian Sherr
The Securities and Exchange Commission is awarding far fewer whistleblower claims, according to Bloomberg Law, which noted the commission denied awards for the entire period between April and July, the longest stretch in the program’s history.
2025-07-21T18:54:00Z By Oscar Gonzalez
The firing of a Democrat commissioner of the U.S. Federal Trade Commission by President Donald Trump was illegal, according to a federal judge’s ruling last week.
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