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BitMEX - Executive Liability for Anti-Money Laundering Failures

The trend of holding executives personally liable for anti-money laundering and compliance failures by their organizations continues.

On October 1, the CFTC announced the filing of a civil enforcement action charging five entities and three individuals that own the BitMEX cryptocurrency exchange with operating an unregistered trading platform, and for BitMEX’s failure to implement KYC procedures or a Customer Information Program. The CFTC press release is available here.


The U.S. Attorney for the Southern District of New York also indicted the three individuals (along with a fourth), on federal charges of violating the Bank Secrecy Act. You can download a copy of the SDNY indictment here.


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