• BitMEX completes user verification
    Regulation

    In wake of indictments, BitMEX completes user verification program

    The cryptocurrency derivatives exchange began putting an anti-money-laundering program in place for all of its users following the indictment of several executives, including former CEO Arthur Hayes

    The Seychelles-based exchange has been under severe pressure since the Oct. 1 indictment, when the four executives were charged with violating the Bank Secrecy Act by failing to put an acceptable user identity verification program in place.

  • Alexander Höptner CEO BitMEX
    Cryptocurrencies,  Regulation

    In wake of indictments, BitMEX operator appoints former Börse Stuttgart exec as CEO

    Alexander Höptner led Börse Stuttgart as the firm reportedly became European Union’s first traditional exchange operator to become a regulated crypto multilateral trading facility

    Höptner led Börse Stuttgart as the firm started offering regulated cryptocurrency trading services inside the European Union, from Germany. The company said it was the European Union's first traditional exchange operator to become a regulated crypto multilateral trading facility.

  • bitMEX hires compliance officer
    Regulation,  United States

    BitMEX hires chief compliance officer following U.S. money laundering charges

    Notably, the new compliance officer is expected to bring expertise on the Financial Action Task Force’s recommendations for virtual asset service providers

    Global Digital Finance’s Anti-Money Laundering Working Group advisory council Malcolm Wright is now the chief compliance officer of troubled crypto derivatives exchange’s BitMEX operator.

  • BitMEX Reed $5 million bail
    Cryptocurrencies,  Regulation

    BitMEX’s Samuel Reed released on $5M bail

    The cryptocurrency derivatives exchange’s CTO was one of four executives arrested on Oct. 1, when criminal and civil charges alleging insufficient money laundering protections were unsealed

    Under the terms of his bail, Reed had to put up $500,000 in cash. In addition, both he and his wife had to surrender their passports. He can only travel in New York, Massachusetts, and Wisconsin, with parole office approval.