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BitMEX’s Arthur Hayes Surrenders To Authorities


The previous CEO of BitMEX has appeared in court docket in Honolulu and is out on $10 million bond, in response to experiences.

The previous chief government officer of BitMEX cryptocurrency alternate, Arthur Hayes, has turned himself in. In line with a Bloomberg report, though Hayes at the moment resides in Singapore, he appeared in a Honolulu courtroom on costs associated to alleged violations of know-your-customer legal guidelines in the USA. He was launched on a $10 million bond pending forthcoming court docket proceedings in New York.

After failing to implement anti-money laundering procedures which might be required by companies working inside the North American jurisdiction, the executives liable for the alternate have been indicted on costs of violating the U.S. Financial institution Secrecy Act.

In March of this yr, BitMEX co-founder Ben Delo surrendered to authorities and was arraigned in New York. It’s unknown if this spurred any motivation inside Hayes to give up himself, however it’s obvious that the cryptocurrency executives have leverage of some type, given their capability to evade being charged till now.

Bloomberg experiences that Hayes’ lawyer acknowledged, “Arthur Hayes is a self-made entrepreneur who has been wrongly accused of crimes that he didn’t commit,” and, “Mr. Hayes voluntarily appeared in court docket and appears ahead to combating these unwarranted costs.”

The self-sovereignty of people has solely elevated for the reason that inception of Bitcoin, and can proceed to extend. The flexibility to stay a productive citizen whereas combating costs as immense as these introduced in opposition to Hayes point out clear development within the capability of the frequent individuals to defend themselves in opposition to the state.