Trial of former BitMEX executives set for next March
May 12, 2021. Summarized by summa-bot.
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BitMEX executives will head to court in March 2022 on charges of illegally operating a derivatives exchange.
The money laundering trial for the former executives of U. S. cryptocurrency exchange BitMEX has been scheduled for March 28, 2022.
On May 11, New York District Judge John Koeltl set the trial date for former BitMEX executives CEO Arthur Hayes, co-founder Benjamin Delo, and chief technology officer Samuel Reed.
The U. S. Department of Justice originally filed the criminal charges against the four executives on October 1, 2020, for illegally operating a derivatives exchange.
Hayes, Delo, and Reed founded BitMEX in 2014 but failed to register with the U. S. Commodity Futures Trading Commission which has also filed a civil enforcement action against the company.
DoJ prosecutors have accused BitMEX executives of failing to implement AML procedures while doing business with U. S. -based traders, despite the company being based in the Seychelles.