After intense disputes with the US government, Bitmex, the world’s largest bitcoin derivatives exchange, has reached an agreement with the authorities and will pay $100 million (approximately 500 million reais) in fines to the US government.
Bitmex and its founders were accused 10 months ago by the Department of Justice (DoJ), the Futures and Trade Commission (CFTC) and the Financial Crime Enforcement Network (FinCEN) of evading US regulations.
According to state agencies, KYC and AML policies were not applied to the broker’s North American clients, in breach of local regulations and regulations.
After the allegations, Bitmex restructured its compliance team and the company’s directors were replaced.
“Today marks an important day in our company’s history, and we are very happy to leave that behind. As crypto matures and enters a new era, we have also evolved into the largest crypto derivatives platform with a fully verified user base. Comprehensive user verification, robust compliance and anti-money laundering features are not just hallmarks of our business – they are the drivers of our long-term success.”
– stated the current CEO Alexandre Höptner.
Now the derivatives brokerage plans to open new business fronts in the spot, custody, brokerage, academic and information markets. The exchange has one of the best data research teams in the market and is free of history