Arthur Hayes Sentenced to Two Years' Probation, Six Months House Arrest - Aliens: AI Crypto News & Markets Updates
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Arthur Hayes Sentenced to Two Years' Probation, Six Months House Arrest

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Crypto Briefing

Fri, May 20, 2022

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BitMEX co-founder Arthur Hayes has been sentenced to two years’ probation and six months of home detention by a federal court in New York.

Arthur Hayes has been sentenced to two years’ probation plus six months of home confinement for violating the U.S. Bank Secrecy Act. A U.S. court in New York has sentenced BitMEX co-founder Arthur Hayes for violating the U.S. Bank Secrecy Act by failing to comply with anti-money laundering protocols.

The judge in the case, Judge John Koeltl, said during Hayes’ sentencing that his actions were not a matter of mere oversight, but rather that Hayes understood the implications of failing to comply with anti-money laundering procedures: “He knew these procedures were required to avoid having his company used for money laundering and other illegal purposes...

Prosecutors in the case said that comprehensive compliance within the crypto would be unsuccessful if founders and executives “believe there are no meaningful repercussions for failing to comply with the law.” BitMEX was initially accused of failing to implement anti-money-laundering (AML) programs last year.

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