• 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.

  • BitMEX users pull $340 million
    Regulation,  United States

    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.

  • Arthur Hayes indicted BitMEX
    Cryptocurrencies,  Regulation,  United States

    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.

  • Kik loses SEC suit
    Alt coins,  Cryptocurrencies,  Regulation,  United States

    Kik won’t get its day in court

    The messaging app turned blockchain developer loses badly to the SEC after a summary judgement finds that 2017’s $100 million Kin ICO was an illegal, unregistered securities sale

    In a devastating ruling, a federal judge handed down a summary judgement finding that Kik’s $100 million initial coin offering in 2017 was an unregistered and illegal securities offering.

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