O'Melveny & Myers' David L. Kirman, Laurel Loomis Rimon, Nora Kahn and Braddock Stevenson. Photo: Courtesy Photo BitMEX Indictment Warns of New Department of Justice Approach on AML Program Failures
The BitMEX indictment may signal a new, more aggressive DOJ strategy, one that should gain attention from all financial institutions and money services businesses, not just those in the cryptocurrency community.
November 03, 2020 at 06:23 PM
7 minute read
The Department of Justice's recent indictment relating to cryptocurrency platform BitMEX is notable, because the DOJ has rarely, if ever, filed a standalone criminal indictment against individual executives for failing to maintain an adequate Anti-Money Laundering (AML) program (AML Program Charge). The BitMEX indictment may signal a new, more aggressive DOJ strategy, one that should gain attention from all financial institutions and money services businesses (MSBs), not just those in the cryptocurrency community.
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