Ex-BitMEX CEO Ducks Prison In Anti-Money Laundering Case

By Rachel Scharf (May 20, 2022, 7:14 PM EDT) — Former BitMEX CEO Arthur Hayes avoided prison Friday after pleading guilty to flouting U.S. anti-money laundering requirements on the offshore cryptocurrency derivatives exchange, with a Manhattan federal judge rejecting the government’s call to send a message to others in the industry.

U.S. District Judge John G. Koeltl sentenced Hayes, 36, to two years’ probation with six months of home confinement. The sentence was a loss for prosecutors, who had asked that the former CEO face a substantial period of incarceration for violating the Bank Secrecy Act by knowingly allowing American customers to trade on BitMEX without proper safeguards.

The government said…

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