The penalty of Arthur Hayes, one of the founders of the cryptocurrency exchange BitMEX, has been announced.
Hayes was sentenced to six months of house arrest along with two years’ probation. Hayes was previously found guilty of violating the US Bank Secrecy Act (BSA).
The former CEO used the phrase “I am ready to turn a new leaf” before the sentencing hearing. A representative for Hayes declined to comment after the hearing.
The prosecution stated that Hayes did not implement the anti-money laundering program and the company deliberately violated the BSA. He also emphasized that he has personally earned over a hundred million dollars from BitMEX.
Hayes, on his behalf, sought probation with the option to travel from court to conviction. Hayes was residing in Singapore when the US Department of Justice first filed the lawsuit. The legal team negotiated Hayes’ return to the United States.
