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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.
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 in addition enjoin Hayes, Delo, and Reed from additional violations of the Commodity Trade Act (CEA) and CFTC rules, as charged.
The orders stem from a CFTC criticism filed in October 2020 towards Bitmex and its three founders.
The CFTC resolved the motion towards Bitmex in August 2021 that “integrated a $100 million civil financial penalty and injunctions towards future violations of the CEA and CFTC rules,” the derivatives watchdog detailed.
The U.S. Lawyer’s Workplace for the Southern District of New York additionally “indicted Hayes, Delo, Reed, and one different particular person on costs 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 rely one of many indictments towards them.
The three are scheduled to be sentenced within the upcoming weeks, the derivatives regulator added.
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