'As a result of its willful failure to implement AML and KYC programs, Bitmex was in effect a money-laundering platform.' crypto cryptocurrency bitcoin $BTC
Hayes was notified in May 2018 of allegations that Bitmex was being used to launder the proceeds of a cryptocurrency hack, the DOJ added. However, neither Hayes, Delo, nor Bitmex filed a suspicious activity report thereafter or implemented any measures to prevent future use of the platform to launder funds.As a result of its willful failure to implement AML and KYC programs, Bitmex was in effect a money-laundering platform.
Furthermore, the crypto platform never ceased operations in the U.S. “Despite repeatedly stating that Bitmex did not serve U.S. customers.” the DOJ said: The “purported ‘controls’ Bitmex put in place to prevent U.S. trading were an ineffective facade that did not, in fact, prevent users from accessing or trading on Bitmex from the United States,” the DOJ described.
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