Arthur Hayes, who served as CEO of BitMEX up till he modified into as soon as charged in October with conspiracy to evade money laundering rules, has surrendered to US authorities to face trial, in step with a Bloomberg record.
Hayes, who had been dwelling in Singapore, flew to Hawaii to flip himself in before being released on $10 million bail as allotment of a pre-organized deal with US prosecutors.
The mature CEO will face trial in New York together alongside with his co-founders Benjamin Delo and Samuel Reed. The three stand accused of violating the Monetary institution Secrecy Act, which requires financial institutions to seize measures to forestall money laundering.
A fourth person, head of exchange operations Gregory Dwyer (who’s on a leave of absence), is in Bermuda and has reportedly now not been cooperating with US authorities. The US is seeking his extradition.
BitMEX is an exchange for trading cryptocurrency derivatives, equivalent toalternate choices. In step with CoinMarketCap, it’s the eight-most-popular crypto derivatives alternate, having registered $4.4 billion in trading quantity within the closing 24 hours.
US prosecutors mediate that a pair of of BitMEX’s reputation would possibly per chance per chance per chance stem from trading policies that allegedly attach it afoul of US legislation. “On legend of its failure to put in force [anti-money laundering] and [know-your-customer] packages, BitMEX made itself on hand as a automobile for money laundering and sanctions violations,” the October indictment reads.