Arthur Hayes has asked for no jail time and the freedom to live and travel abroad after pleading guilty to violating anti-money laundering laws.
Arthur Hayes, the co-founder and former CEO of crypto derivatives trading platform BitMEX, has filed a request for leniency in his sentencing, which is scheduled for later this month.today, Hayes’ legal representatives had filed a request for probation with a Manhattan federal judge, with no home detention or community confinement. This was after the BitMEX founder signed a plea deal that would entail a reduced prison sentence of six-to-12 months under federal guidelines.
The lawyers pointed out that the United States vs. Hayes case could act as a precedent for the U.S. government to understand better how to prosecute subsequent financial crimes conducted on crypto trading platforms around the world. They also noted that the former BitMEX CEO would likely not repeat the same offense.
The authorities stated that their failure to establish the know-your-customer and AML services had in effect made BitMEX “a money-laundering platform.”
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