Arthur Hayes, Benjamin Delo, and Samuel Reid, co-founders of cryptocurrency derivatives exchange BitMEX, will each pay $10 million in fines as part of a settlement. CFTC. The decision was made by the Southern District of New York.

In October 2020, the Commission filed suit against BitMEX and its owners. They were accused of operating an unregistered trading platform and violating the rules for the conduct of procedures. KYC and AML.

In August 2021, BitMEX filed a civil lawsuit with the US authorities. The company agreed to pay $100 million.

The new penalties stem from the 2020 lawsuit, according to a CFTC press release. In addition to the fines imposed, Hayes, Delo, and Reed were barred from further violations of the U.S. Commodity Exchange Act and CFTC regulations.

“By providing individual accountability for registration, market behavior and enforcement of anti-money laundering rules, which are key aspects of the US regulatory framework, the CFTC ensures that BitMEX management is held accountable beyond last year’s settlement settlement with corporate defendants,” he said. separate statement. Regulator Commissioner Caroline Pham.

Parallel to this lawsuit, the lawsuit initiated by the US Department of Justice against the stock market continues. In October 2020, Greg Dwyer, the co-founder and chief executive of BitMEX, was charged with violating the Bank Secrecy Act (BSA).

Arrested in the USA, Reed was released on $5 million bail.

In the UK, Delo surrendered to US authorities in March 2021. Hayes flew from Singapore to Hawaii in April and had previously accepted the terms of voluntary surrender.

The court also released them both on bail. For Hayes, the amount was $ 10 million, for Delo – $ 20 million Dwyer, who lives in Bermuda, agreed to the return in September.

At the end of 2021, Dwyer’s lawyers persuaded the court to adjourn the case to October 2022 due to insufficient time to prepare for the hearing.

In February 2022, Reed was also found guilty of a BSA violation.

Recall that in May, Arthur Hayes petitioned the court for indulgence. The former head of BitMEX asked not to jail him, but to be allowed to travel freely and live abroad.