BitMEX Case Seen As Blessing In Disguise For Crypto Sector
Law360 (October 20, 2020, 5:15 PM EDT) -- The indictment served to cryptocurrency exchange BitMEX early this month sends a strong message that federal authorities are determined to regulate the crypto space, an effort that will further legitimize the asset class by weeding out bad actors and encourage participation from mainstream banking, industry attorneys believe.
In the Oct. 1 indictment, prosecutors charged four of the company's top executives, including its CEO, with knowingly evading the Bank Secrecy Act's anti-money laundering regulations over at least a five-year period.
Attorneys noted that BitMEX, one of the world's largest cryptocurrency exchanges, seemed to show clear disregard for U.S. regulations, making it a glaring...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!