On 20 May, the Wall Street Journal reported that Arthur Hayes, a co-founder and former CEO of cryptocurrency derivatives exchange BitMEX, has been sentenced in the US to serve 6 months of house arrest for failing to establish a compliant AML program. He was also ordered to serve 2 years’ probation and had paid a $10 million penalty in connection with a settlement with the CFTC. The judge in the case is quoted as saying that when individuals like Hayes operate platforms without AML programs or KYC programs, they become a magnet for people to launder money.
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NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!