2 years ago
The founders of Bitmex person been ordered to wage $30 cardinal “for illegally operating a cryptocurrency derivatives trading level and anti-money laundering violations.” Arthur Hayes, Benjamin Delo, and Samuel Reed indispensable wage $10 cardinal each.
Bitmex’s Founders Fined $30 Million
The Commodity Futures Trading Commission (CFTC) announced Thursday that the U.S. District Court for the Southern District of New York has ordered Bitmex’s founders to wage a full of $30 cardinal dollars “for illegally operating a cryptocurrency derivatives trading level and anti-money laundering violations.”
Noting that the 3 Bitmex co-founders are Arthur Hayes, Benjamin Delo, and Samuel Reed, the CFTC clarified:
The orders necessitate each to wage a $10 cardinal civilian monetary penalty, and besides enjoin Hayes, Delo, and Reed from further violations of the Commodity Exchange Act (CEA) and CFTC regulations, arsenic charged.
The orders stem from a CFTC ailment filed successful October 2020 against Bitmex and its 3 founders.
The CFTC resolved the enactment against Bitmex successful August 2021 that “incorporated a $100 cardinal civilian monetary punishment and injunctions against aboriginal violations of the CEA and CFTC regulations,” the derivatives watchdog detailed.
The U.S. Attorney’s Office for the Southern District of New York besides “indicted Hayes, Delo, Reed, and 1 different idiosyncratic connected charges of willfully causing Bitmex to interruption the Bank Secrecy Act and conspiracy to perpetrate that aforesaid offense,” the CFTC noted, elaborating:
Hayes, Delo, and Reed person entered blameworthy pleas to number 1 of the indictments against them.
The 3 are scheduled to beryllium sentenced successful the upcoming weeks, the derivatives regulator added.
What bash you deliberation astir Bitmex’s co-founders having to wage $30 million? 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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