Arthur Hayes and Benjamin Delo, the founders of cryptocurrency exchange BitMEX, have been found guilty of violating the “Bank Secrecy Act” (BSA) after a lengthy litigation process with the US Department of Justice (DOJ).
on BitMEX Bank Secrecy Act accused of violating Hayes and delo, March before the hearing in anti-money laundering (AML) program establishing, implementing and maintaining admitted that they had deliberately failed, and each 10 million dollars agreed to pay the fine. The founders also over 5 years at most they can get jail time.
DOJ, USAany time in customer recognition (KYC) and anti money laundering (AML) serving without procedure BitMEXDue to the lack of such legislation ofactually a money laundering platform“It has become,” he said.
Expressing that operating a crypto platform in the US has “an obligation for these businesses to do their part to help prevent crime and corruption.” DOJ Damian Williams’ attorneyHe said that BitMEX operates as a platform “in the shadow of financial markets.”
Arthur Hayes and Benjamin Delo formed a company designed not to comply with these obligations. They have deliberately failed to implement and maintain even basic anti-money laundering policies.
Authorities also noted that the two executives The platform is not used by any American citizen. He also denied the allegations against deloof, internal tracking information to reflect customers’ country of residence as different from the US He said he changed.
DOJ, October 2020 on Hayes, Delo and suspect Sam Reed a system that allows country users to transact offshore shop by establishing that the US is trying to break AML regulations had claimed.
Hayesafter the court process BitMEX CEO resigned from his position as Alexander Hoptner had taken over.