Arthur Hayes and Ben Delo, founders of crypto derivatives exchange BitMEX, have pleaded guilty to violating US law, the US Department of Justice website has reported. According to the agency:
"Arthur Hayes and Ben Delo pled guilty today to violating the Bank Secrecy Act (the ‘BSA’) by willfully failing to establish, implement and maintain an anti-money laundering (‘AML’) program at BitMEX."
The press release states they have agreed to pay $10 million in separate fines. The maximum penalty for the crime in question is up to 5 years in prison. The court will announce the specific punishment in the near future.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Hayes has said he takes responsibility for his actions "and hopes to put this matter behind him," while a spokesperson for Delo has said he regrets that BitMEX "did not have a proper customer identification program in place."
In October 2020, the US Department of Justice filed charges of violating the Bank Secrecy Act against exchange co-founders Arthur Hayes, Ben Delo, Samuel Reed and Greg Dwyer.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.