News

U.S. officials penalized a group of five companies $100 million Tuesday for failing to ensure that BitMEX, a cryptocurrency derivatives exchange they operate jointly, complied with anti-money laundering rules over a period of six years. From November 2014 to December 2020, BitMEX, which is owned by Seychelles-based HDR Global Trading, maintained U.S. offices and served U.S. clients, accepted deposits of cryptocurrency, securities and government-back currency to support leveraged trades of Ether, Litecoin and Bitcoin derivatives, and moved funds between counterparties. Emails dating back to the days before BitMEX's launch show that its executives knew operating the trading platform would require...