BitMEX owners sued for operating the cryptocurrency trading platform illegally

1054
SHARE

In a statement, CFTC Division of Enforcement Director James McDonald said, “As the CFTC has made clear; registration requirements are a cornerstone of the regulatory framework that protects Americans and U.S. financial markets. Effective anti-money laundering procedures are among the fundamental requirements of intermediaries in the derivatives markets, whether in traditional products or the growing digital asset market. This action shows the CFTC will continue to work vigilantly to protect the integrity of these markets.”

The CFTC is seeking a court order requiring the defendants to disgorge ill-gotten gains and to pay civil monetary penalties. It is also seeing restitution for the benefit of customers, permanent registration and trading bans, and a permanent injunction from future violations of the Commodity Exchange Act (CEA).

DOJ files criminal charges against BitMEX owners and first employee

Meanwhile, the Acting U.S. Attorney for the District of New York Audrey Strauss filed criminal charges against Hayes, Delo, and Reed, along with Gregory Dwyer, BitMEX’s first employee.