• BitMEX completes user verification
    Regulation

    In wake of indictments, BitMEX completes user verification program

    The cryptocurrency derivatives exchange began putting an anti-money-laundering program in place for all of its users following the indictment of several executives, including former CEO Arthur Hayes

    The Seychelles-based exchange has been under severe pressure since the Oct. 1 indictment, when the four executives were charged with violating the Bank Secrecy Act by failing to put an acceptable user identity verification program in place.

  • cryptocurrency enforcement framework
    Cryptocurrencies,  Regulation,  United States

    DoJ launches law enforcement guide to crypto

    The Department of Justice’s extensive report, ‘Cryptocurrency: An Enforcement Framework,’ singles out many of the challenges cryptocurrencies bring to law enforcement

    U.S. Attorney General William Barr today released an 83-page report detailing the threats and challenges cryptocurrencies pose to law enforcement, and in some ways, it’s a doozy.

  • Arthur Hayes indicted BitMEX
    Bitcoin,  Regulation,  United States

    Arthur Hayes out at BitMEX

    With its three co-founders under indictment for money laundering in the U.S., the Seychelles-based cryptocurrency derivatives exchange has dumped its leadership

    CEO Arthur Hayes and co-founders Benjamin Delo, and Samuel Reed, as well as head of business development Gregory Dwyer, have stepped down after the U.S. Department of Justice indicted them for violating the Bank Secrecy Act and conspiring to violate the Bank Secrecy Act. The charges are based on what prosecutors say are deliberately weak and inefficient customer identification procedures.

  • Feds are coming for DeFi
    Cryptocurrencies,  Regulation

    The feds are coming for DeFi

    In the wake of criminal charges leveled at exchange and derivatives platform BitMEX, decentralized finance projects may find they’re not untouchable

    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.