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

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.