BitMEX CEO receives 6 months house arrest and 2 years probation
- Arthur Hayes has been sentenced to six months house arrest.
- Hayes has already paid a $ 10 million fine in connection with a settlement with the US Commodity Futures Trading Commission.
- Hayes is the first of three BitMEX co-founders convicted of violating the Bank Secrecy Act.
Arthur Hayes, co-founder and former CEO of the cryptocurrency derivatives exchange BitMEX, has been sentenced to six months’ house arrest for violating US law by failing to establish a compatible anti-money laundering (AML) program.
It was made public after he was convicted at a court hearing in a federal court in Manhattan on Friday. In addition to his house arrest, he must also serve two years of conditional imprisonment. Hayes has already paid a $ 10 million fine in connection with a settlement with the US Commodity Futures Trading Commission.
Prosecutors said Hayes made himself rich by closely monitoring, studying, and carefully ignoring U.S. AML laws and regulations designed to prevent financial institutions from moving money to criminals and terrorists.
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