The idea of decentralized finance is that there is no central authority in charge to control the exchange’s operations doesn’t mean they can get away with lax or no know-your-customer (KYC) and anti-money-laundering (AML) compliance. Or that there is no one to be held accountable.
BitMEX users pull $340 million following criminal, civil charges
BitMEX users withdrew over 32,200 Bitcoins from the platform after the CFTC and Department of Justice hit the derivatives exchange with anti-money-laundering violations. Bitcoin promptly tanked
The users of cryptocurrency derivatives exchange BitMEX withdrew nearly one-fifth of all the funds stored in the company’s wallets.
BitMEX CEO Arthur Hayes facing jail for AML violations
The derivatives exchange’s founder has been charged with violating anti-money-laundering laws by the U.S. Attorney, and sued by that CFTC for the same thing
Hayes, along with the Seychelles-based cryptocurrency derivatives exchange’s co-founders Benjamin Delo, Samuel Reed, and head of business development Gregory Dwyer have been charged with violating the Bank Secrecy Act and conspiring to violate the Bank Secrecy Act by failing to put sufficient anti-money-laundering safeguards in place. Each charge carries a maximum penalty of five years in prison.
‘The fastest horse’—billionaire who predicted 1987 crash is betting on Bitcoin
Paul Tudor Jones is betting some $400 million that Bitcoin will be the best-performing asset of the decade, and his endorsement could trigger an inflow of investment
Tudor Investment Corp.’s flagship BVI fund has $22 billion, making Jones’ Bitcoin investment close to $440 million. It comes at a particularly opportune moment, as today’s Bitcoin halving attracts a lot of attention, and suggests the price of BTC is about to begin a long bull run.