Pioneering cryptocurrency exchange BitMEX was ordered by a judge to pay a $100 million fine for violating US anti-money laundering law, capping one of the first big criminal enforcement cases targeting the crypto market.

The cryptocurrency exchange BitMEX has been fined $100 million for deliberately ignoring U.S. anti-money laundering laws in order to boost revenue, the U.S. Department of Justice said on Wednesday. BitMEX,

BitMEX, a prominent cryptocurrency exchange, was ordered to pay an additional $100 million fine for violating the U.S. Bank Secrecy Act (BSA) between 2015 and 2020.

BitMEX was fined $100 million Wednesday for U.S. money-laundering violations after a years-long court battle. In 2022, founders Arthur Hayes and Benjamin Delo pleaded guilty to similar charges and paid $10 million in fines. The US government requested that the court dismiss all open counts against the crypto exchange at sentencing.

The case against BitMEX is one of the last to be resolved by the US Justice Department as the Joe Biden administration winds down.

Prosecutors accuse BitMEX and its founders of failing to adopt anti-money-laundering and “know your customer” programmes.

BitMEX fined $100M, prosecutors sought return of Bitfinex funds, Mango Markets shut, a Web3 attack method; pastor charged in crypto scam, CFPB proposed

BitMEX was fined $100 million for violating the U.S. Bank Secrecy Act from 2015 to 2020. The Justice Department originally sought a $417 million penalty.