BIT Mining agreed to pay a $10 million fine due to bribery charges against Japanese officials, of which $4 million will be paid to the SEC

Nov 19, 2024 08:33:57

according to Bloomberg, the U.S. SEC stated on Monday that the cryptocurrency mining company BIT Mining Ltd. (formerly known as 500.com Limited) has agreed to pay a $4 million fine to settle the agency's allegations of bribing Japanese officials.

The SEC pointed out that BIT Mining paid $2.5 million in cash bribes and gifts to Japanese lawmakers and others between 2017 and 2019 in an attempt to win bids for opening casino resorts in Japan.

In a separate action, the U.S. Department of Justice announced that it has reached an agreement with BIT Mining, where BIT Mining agrees to pay a $10 million criminal fine, of which $4 million will be paid to the U.S. SEC by the company.

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