BIT Mining Pays SEC $4 Million Over Japanese Bribe Allegations

A crypto miner agreed to pay a $4 million penalty to settle US Securities and Exchange Commission allegations that it engaged in a scheme to bribe Japanese officials, the agency said Monday.

BIT Mining Ltd., formerly known as 500.com Limited, between 2017 and 2019 paid $2.5 million in cash bribes and gifts, including to members of the Japanese parliament, to try to win a bid to open a casino resort in Japan, the SEC said.

In a parallel action, the Justice Department said it had entered into an agreement in which BIT Mining agreed to pay a $10 million criminal ...