The co-founder and former CEO of cryptocurrency derivatives platform BitMEX was sentenced to two years of probation, with the first six months imprisoned at home.
- In late 2020, the Commodity Futures Trading Commission (CFTC) accused the company’s co-founders Arthur Hayes, Benjamin Delo and Samuel Reed of operating digital asset trading venues without implementing proper anti-money laundering rules.
- BitMEX had to pay $100 million in fines while its three co-founders resigned. More recently, Hayes, through her lawyers, has requested leniency in her sentencing scheduled for May 20.
- Quotation According to Bloomberg, on the 11th, Judge John Coeltle granted Heize’s wish, and the sentence became official. He won’t go to jail. Instead, he is sentenced to two years of probation and must spend his first six months at home.
- This comes after several U.S. prosecutors have argued that Hayes’ punishment should be stricter and should signal the entire crypto industry. At a hearing yesterday, Assistant Secretary Samuel Raymond told a federal judge that this was a “very serious offense” and added:
“There were real results. When an individual like Hayes runs a platform that has no anti-money laundering or know-a-customer programs, people become a magnet for money laundering.”
- The defense attorney added that such a light sentence “will send a message to him that the cost of the business is only a fine and that he can continue to break the law and pay fines in exorbitant amounts.” This case is being closely watched by cryptocurrency exchanges and other companies around the world.”
- Meanwhile, Heize took full responsibility for her actions, promising that she was “ready to turn the page and start over.”
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