2 years ago
Bitmex co-founder Arthur Hayes is not going to situation for violating the U.S. Bank Secrecy Act. Instead, the erstwhile crypto speech CEO has been sentenced to “six months of location detention and 2 years of probation.” Hayes has agreed to wage a good of $10 million.
Bitmex’s Arthur Hayes Sentenced
The U.S. Department of Justice (DOJ) announced Friday that the laminitis and erstwhile CEO of cryptocurrency derivatives speech Bitmex has been sentenced for violating the Bank Secrecy Act (BSA). Hayes pleaded guilty to violating the Bank Secrecy Act successful February.
The DOJ states:
Hayes, 36, of Miami, Florida, was sentenced to six months of location detention and 2 years of probation. Hayes besides agreed to wage a good of $10 cardinal dollars representing his pecuniary summation from the offense.
U.S. Attorney Damian Williams explained that portion gathering a cryptocurrency trading level “that profited him millions of dollars,” Hayes “willfully defied U.S. instrumentality that requires businesses to bash their portion to assistance successful preventing transgression and corruption.”
Williams added: “He intentionally failed to instrumentality and support adjacent basal anti-money laundering policies, which allowed Bitmex to run arsenic a level successful the shadows of the fiscal markets.”
Two different Bitmex co-founders, Benjamin Dalo and Sam Reed, besides pleaded blameworthy and are scheduled to beryllium sentenced successful the adjacent future.
Like Hayes, the 2 different co-founders person besides been ordered to wage $10 cardinal each successful a civilian monetary penalty.
What bash you deliberation astir Arthur Hayes’ sentence? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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