President Donald Trump is said to be decorating the three co-founders of the crypto Exchange Bitmex, including prominent crypto investor Arthur Hayes.
According to a new CNBC report, Trump required Hayes, Benjamin Delo and Samuel on Thursday, almost three years after they have argued guilty of violating the Bank Secrecy Act by deliberately making failure to set up sufficient anti-money wax protocols.
At the time, public prosecutors accused the trio of exploiting Bitmex as if it is a ‘money white platform’ because instead of implementing typical Know Your Customer (KYC), verification standards that are a series of regulations designed to certify the identity of a customer as a way to prevent crime.
“From approximately 2014 to 2020, BitMex was allowed to have access to its platform and derivatives trade without carrying out the correct Due Diligence of the customer – collecting only an e -mail address and not verifying the identity of the customer.”
Hayes, Delo and Reed received punishments from probation and were forced to pay tens of millions of dollars in fines.
In July last year, Bitmex himself – who was founded about ten years earlier – argued guilty of violating the Bank Secrecy Act too. At the time, the American attorney Damien Williams said that the antics of the crypto exchange were a danger to the American financial system.
Said Williams,
“Bitmex opened itself as a vehicle for large -scale money laundering of money and the punishment of avoidance schemes, which caused a serious threat to the integrity of the financial system. [This] Guilty plea indicates again that cryptocurrency companies should comply with American legislation if they benefit from the American market. “
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