The legal issues surrounding the cryptocurrency exchange run by the co-founders of Bitmex continue to make headlines. Benjamin Delo surrendered to the American authorities, and Arthur Hayes agreed to do the same in April.
The case is released on $20 million bail.
According to Bloomberg, Bitmex co-founder Benjamin Delo traveled from the United Kingdom to the United States and pleaded not guilty before U.S. District Judge Sarah L. Cave. However, he was later released after posting $20 million bail.
Under the terms of the release, the judge allowed the case to be returned to the UK. Nevertheless, she is waiting for a status meeting scheduled for May.
Along with Arthur Hayes and Samuel Reed, Delo co-founded the crypto-derivatives exchange, but in October 2020 they were accused of violating the Bank Secrecy Act (BSA). The charges were filed by the Commodity Futures Trading Commission (CFTC) and the U.S. Department of Justice.
The BSA requires financial institutions to provide documentation for transactions that exceed the $10,000 threshold. The purpose of such a measure is to prevent money laundering through the banking system.
In addition, Gregory Dwyer, one of the original employees of the cryptocurrency exchange, has been sued as part of Bitmex’s legal battle with US authorities. At the time of going to press, he is still at large.
A Delo spokesperson told Bloomberg:
The allegations are unfounded and have been described as exaggerated by the US authorities. Case wants to defend himself against the allegations and clear his name in court.
Hayes is on April 6 to Hawaii from
The 17th. On May 20, 2021, the United States District Court for the Southern District of New York announced that Arthur Hayes had also agreed to retire on May 6. April 2021 in the United States. It is issued with a $10 million bond, secured by a $1 million cash deposit.
Hayes currently lives in Singapore and, according to court proceedings, will appear before U.S. authorities in Hawaii.
Reed is also a free man after he was arrested in 2020 and paid a $5 million bail.
What do you think of the arrival of the two co-founders? Let us know your comments in the section below.
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