BitMEX Founders Plead Guilty To Bank Secrecy Act Violations

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By Dean Seal (February 24, 2022, 9:51 PM EST) — Two co-founders of the offshore cryptocurrency derivatives exchange BitMEX pled guilty Thursday to violating the Bank Secrecy Act, roughly a month before they were set to stand trial in New York federal court.

The U.S. Department of Justice said in an announcement that Arthur Hayes and Benjamin Delo, two of three BitMEX founders, have each agreed to pay a $10 million fine and face up to five years in prison for failing to maintain an anti-money laundering program at BitMEX.

“Arthur Hayes and Benjamin Delo built a company designed to flout those obligations; they willfully failed to implement and maintain even…

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