Digitex Futures exchange was ordered to pay $16 million in penalty for failing to register with the CFTC and manipulating the native token price.
A United States federal court has charged Adam Colin Todd — the founder of the Digitex Futures exchange — with violating the Bank Secrecy Act by failing to establish and implement an anti-money laundering program.
The Bank Secrecy Act (BSA) is considered a critical tool in the fight against financial crimes. Establishing an AML program is vital to BSA compliance as it mandates financial institutions to keep records and notify the Financial Crimes Enforcement Network (FinCEN) of certain transactions.
The charges against the futures exchange founder were made public by the United States Attorney’s Office for the Southern District of Florida on Feb. 12. The Federal Bureau of Investigation (FBI) Miami investigated the case, and assistant U.S. Attorney Trevor Jones is the prosecutor.
