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…