In a surprising move, President Donald Trump has pardoned Arthur Hayes, Benjamin Delo, and Samuel Reed, the co-founders of cryptocurrency exchange BitMEX. These pardons erase their federal convictions tied to violations of the Bank Secrecy Act (BSA), which mandates anti-money laundering (AML) and know-your-customer (KYC) compliance.
What Happened?
The trio had previously pleaded guilty to charges stemming from allegations that BitMEX operated as a “money laundering platform.” Prosecutors claimed their supposed withdrawal from the U.S. market was a “sham.” Each founder faced probation sentences and paid $10 million in criminal fines, totaling $30 million in civil penalties.
Read More: https://onthenode.com/cryptocurrency/trump-pardons-bitmex-founders-a-crypto-shockwave
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