The 3 co-founders of the cryptocurrency exchange BitMEX were fined $30 million by the US Southern District Court of New York.
According to the Commodity Futures Trading Commission (CFTC) statement on May 5, the institution, Arthur Hayes, Benjamin Delo, and Samuel Ree violated some of the CFTC’s rules and therefore each 10 million dollar finesI gave.
Commodity Futures Trading Commission, to the stock market and its three founding partners in October 2020 had sued. The case was concluded on May 5, 2022. According to the outcome of the case, BitMex It was stated that the exchange violated some rules.
According to the CFTC, BitMEX must be able to execute its transactions. Traded without CFTC approval as a Futures Broker with and without approval conducted studies. Also, BitMEX, get to know your customer (KYC) and money laundering prevention (AML) stated to comply with the rules.
On February 22, BitMEX founders Arthur Hayes and Benjamin Delo were found guilty of violating the “Bank Secrecy Act” (BSA) after a lengthy litigation process with the US Department of Justice (DOJ).
BitMEX Founders Admit US Department of Justice (DOJ) Charges
Related article: BitMEX Founders Admit US Department of Justice (DOJ) Charges