BitMEX Faces Severe DOJ Penalties for Violations of AML and Bank Secrecy Act

BitMEX, a major cryptocurrency exchange, recently admitted to violations of the Bank Secrecy Act, highlighting regulatory challenges in the crypto industry. The allegations against BitMEX include failing to implement robust anti-money laundering (AML) protocols and know your customer (KYC) measures. U.S. Attorney Damien Williams emphasized the severe risks these actions pose to the U.S. financial