Recent years have seen the crypto industry mature across the global economic landscape, but it still runs into high-profile snags. On Oct. 1, the United States Department of Justice filed criminal charges against four executives of the BitMEX trading platform — including its founder, Arthur Hayes — for violating the Bank Secrecy Act. One of the executives in question has been arrested, according to a DOJ statement.
Furthermore, the Commodity Futures Trading Commission also filed a civil enforcement action against BitMEX and three of its executives for violating Anti-Money Laundering regulations.
The regulatory body claimed that BitMEX and its top brass have been engaging in shady activities for years, such as using weak Anti-Money Laundering and Know Your Customer policies that bad actors can exploit using various methods such as VPNs to mask their virtual identities, among…
