Cryptocurrencies
BitMEX Founders Hayes, Delo Plead Guilty in U.S. Over Money-Laundering Controls
- Pair were charged with failing to police money-laundering
- Crypto exchange previously settled CFTC, FinCEN investigations
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BitMEX co-founders Arthur Hayes and Benjamin Delo admitted they failed to establish an anti-money-laundering program at the cryptocurrency exchange, avoiding a trial on federal charges scheduled to begin in New York next month.
Hayes, 36, and Delo, 38, each pleaded guilty Thursday to a single charge of violating the Bank Secrecy Act. Under the plea deal, the parties agreed that the federal sentencing guidelines call for a sentence of six to 12 months each. Hayes and Delo each also agreed to pay a fine of $10 million. If convicted at trial, they had faced as much as five years in prison.