Benjamin Delo pleaded guilty to violating the Bank Secrecy Act alongside Hayes and Reed, but despite prosecutors pushing for a bigger sentence, he has avoided prison.
A New York federal court has ordered the co-founders of BitMEX exchange to pay $30 million in civil monetary penalty in connection with charges of violating the U.S. Bank Secrecy Act.
The OCC states that the bank failed to meet Bank Secrecy Act requirements and ordered it to appoint a compliance committee and hire a BSA officer.
Samuel Reed, along with Arthur Hayes, Benjamin Delo, and Greg Dwyer, are accused of knowingly operating a BTC trading platform that had a lax anti-money laundering program and failed to conduct basic KYC checks.
Arthur Hayes and Benjamin Delo, co-founders of the BitMEX cryptocurrency exchange, have pled guilty to using their platform as a means of dodging U.S. money laundering rules.
The proposed regulations may mean the end of anonymous digital currency transactions in the United States, and it also implies that MSBs will have to collect more information on their users.
Greg Dwyer has been charged alongside BitMEX founders Arthur Hayes, Ben Delo, and Samuel Reed, who have already surrendered to U.S. authorities and stand to face up to five years behind bars.
The Taproot “upgrade” moves BTC even further away from the original 2009 Bitcoin protocol and enables participants in a contract to hide not only their identities, but their public keys as well.
America appears determined to bring an end to the digital currency sector’s ‘wild west’ phase, signalling a fundamental realignment with serious implications for the current market leaders.
Under the terms of the bond, Ben Delo can travel back to the United Kingdom and return to the United States only when called upon by the court.
The United States has passed huge reforms to its anti-money laundering regime, bringing digital asset exchanges and others dealing in digital assets further within the reach of regulators.