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.
Dwyer, the former head of operations at BitMEX, will join his colleagues including ex-CEO Arthur Hayes to face banking law breach charges in the United States.
A California judge threw out the lawsuit accusing BitMEX of market manipulation and fraud, claiming that the plaintiffs copied it from a similar lawsuit.
The derivatives trading platform allegedly violated U.S. regulations when it offered investment products without acquiring the necessary license and failed to implement customer identification programs.
Judge William H. Orrick responded to a proposal submitted by the plaintiffs by saying the offer was “not well taken,” urging them instead to “focus on the task at hand” of convincing him a legitimate case exists.
The number of laypeople pouring their money into ‘crypto’ is growing exponentially, lured in by fantasies of overnight wealth and the false idea that BTC’s 300% gains over the past year can only continue.
BitMEX and its founders are facing a growing wave of legal action over what prosecutors and plaintiffs call a wholesale scheme to manipulate digital asset markets at the expense of its own customers.
BitMEX and its trio of founders Arthur Hayes, Benjamin Delo and Samuel Reed are facing yet another RICO lawsuit in California, as shown by newly-filed court documents.
Arthur Hayes has reportedly surrendered himself to U.S. authorities in Hawaii, to face charges of failing to implement money laundering protections at BitMEX exchange.
The U.S.’s expanding offensive on digital asset players should be a clear signal that existing regulatory structures apply to the digital asset ecosystem.
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.