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BTCC / BTCC Square / Global Cryptocurrency /
BitMEX Fined $100 Million for AML Violations

BitMEX Fined $100 Million for AML Violations

Author:
Global Cryptocurrency
Published:
2025-01-17 07:00:02
10
2
BitMEX, a prominent cryptocurrency trading platform, has been fined $100 million for failing to comply with US anti-money laundering (AML) regulations. The penalty was imposed due to the platform's violation of the US Bank Secrecy Act (BSA), which allowed illegal transactions to occur on its platform over several years. BitMEX's lack of adequate Know Your Customer (KYC) procedures enabled US users to bypass regulations and engage in illicit trading activities.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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