This has been a blockbuster week for cryptocurrency enforcement actions in the United States against cryptocurrency exchanges. To cover just two of the major developments that occurred in the past week, two co-founders of a cryptocurrency exchange, BitMEX, Arthur Hayes and Benjamin Delo, pled guilty to violating the Bank Secrecy Act (the BSA) by failing to implement and maintain an anti-money laundering (AML) program. Shortly thereafter, the court overseeing the BitMEX prosecution denied a motion to dismiss the indictment against Samuel Reed, a third co-founder of BitMEX.
This alert breaks down the decision in detail below, but for the busy […]
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