US Court Fines Bitmex’s Founders $30 Million for Operating Illegal Crypto Platform – Regulation Bitcoin News
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The organizers behind Bitmex have been requested to pay $30 million “for illegally operating a cryptocurrency derivatives trading platform and anti-money laundering violations.” Arthur Hayes, Benjamin Delo, and Samuel Reed should pay $10 million each.
Bitmex’s Founders Fined $30 Million
The Commodity Futures Trading Commission (CFTC) declared Thursday that the U.S. Locale Court for the Southern District of New York has requested Bitmex’s pioneers to pay an aggregate of $30 million bucks “for illegally operating a cryptocurrency derivatives trading platform and anti-money laundering violations.”
Noting that the three Bitmex prime supporters are Arthur Hayes, Benjamin Delo, and Samuel Reed, the CFTC clarified:
The orders require each to pay a $10 million common financial punishment, and furthermore urge Hayes, Delo, and Reed from additional infringement of the Commodity Exchange Act (CEA) and CFTC guidelines, as charged.
The orders originate from a CFTC protest documented in October 2020 against Bitmex and its three founders.
The CFTC settled the activity against Bitmex in August 2021 that “incorporated a $100 million civil monetary penalty and injunctions against future violations of the CEA and CFTC regulations,” the subsidiaries guard dog detailed.
The U.S. Lawyer’s Office for the Southern District of New York likewise “indicted Hayes, Delo, Reed, and one other individual on charges of willfully causing Bitmex to violate the Bank Secrecy Act and conspiracy to commit that same offense,” the CFTC noted, elaborating:
Hayes, Delo, and Reed have entered blameworthy requests to count one of the arraignments as a detriment for them.
The three are planned to be condemned in the forthcoming weeks, the subsidiaries controller added.
What do you ponder Bitmex’s fellow benefactors paying $30 million? Tell us in the remarks area below.
Kevin Helms
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