The founders of Bitmex have been ordered to pay $30 million “for illegally working a cryptocurrency derivatives buying and selling platform and anti-money laundering violations.” Arthur Hayes, Benjamin Delo, and Samuel Reed should pay $10 million every.
Bitmex’s Founders Fined $30 Million
The Commodity Futures Buying and selling Fee (CFTC) introduced Thursday that the U.S. District Court docket for the Southern District of New York has ordered Bitmex’s founders to pay a complete of $30 million {dollars} “for illegally working a cryptocurrency derivatives buying and selling platform and anti-money laundering violations.”
Noting that the three Bitmex co-founders are Arthur Hayes, Benjamin Delo, and Samuel Reed, the CFTC clarified:
The orders require every to pay a $10 million civil financial penalty, and likewise enjoin Hayes, Delo, and Reed from additional violations of the Commodity Trade Act (CEA) and CFTC laws, as charged.
The orders stem from a CFTC grievance filed in October 2020 in opposition to Bitmex and its three founders.
The CFTC resolved the motion in opposition to Bitmex in August 2021 that “included a $100 million civil financial penalty and injunctions in opposition to future violations of the CEA and CFTC laws,” the derivatives watchdog detailed.
The U.S. Legal professional’s Workplace for the Southern District of New York additionally “indicted Hayes, Delo, Reed, and one different particular person on expenses of willfully inflicting Bitmex to violate the Financial institution Secrecy Act and conspiracy to commit that very same offense,” the CFTC famous, elaborating:
Hayes, Delo, and Reed have entered responsible pleas to depend one of many indictments in opposition to them.
The three are scheduled to be sentenced within the upcoming weeks, the derivatives regulator added.
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