Cryptocurrency exchange BitMEX has been ordered to pay a $100 million fine for violating US banking laws.

A federal judge ordered HDR Global Trading Limited, BitMEX's parent company, to pay the penalty along with a two-year unsupervised probation sentence.

In a to rule On Wednesday, January 15, 2025, US District Judge John Koeltl, of the Southern District of New York, rejected BitMEX's argument that its previous $110 million fine was sufficient for its violations.

This comes six months after BitMEX's parent company pleaded guilty to charges of violating the US Bank Secrecy Act. In July 2024, the company downplayed the new guilty plea as “old news,” noting that its founders had already filed Similar appeals In 2022.

Following the judge's decision on January 15, BitMEX issued a ruling Summary statement.

“While we are disappointed to learn that an additional financial penalty has been imposed, the amount is significantly less than what the Department of Justice has been pursuing for more than 3 years.”

BitMEX acknowledged that during the case, the US Department of Justice initially sought more than $200 million as part of the plea deal settlement. After the stock exchange rejected this offer, the government imposed fines amounting to $420 million.

“Given that the court set an amount well below these levels is justification for our position, we question whether US taxpayer resources could have been better applied during this period,” BitMEX wrote.