Arthur Hayes asks the court to allow him free movement

Co-founder and former head of the BitMEX cryptocurrency derivatives exchange Arthur Hayes asked the court not to sentence himto imprisonment, but to be allowed to travel freely and live abroad. Bloomberg writes about it.

According to the agency, Hayes' lawyers sentto the court for a conditional release. In February 2022, the ex-head of the platform pleaded guilty to violating the US Bank Secrecy Act (BSA). The deal included 6 to 12 months in prison.

According to lawyers for the BitMEX co-founder, the verdict in this case is a precedent that US regulators and authorities can use when prosecuting cryptocurrency exchanges.

“This is a landmark case that has alreadyexclusive, public influence on the personal life of Mr. Hayes, as well as on the business of BitMEX, of which he is a co-founder, ”Bloomberg quotes a letter from lawyers.

In October 2020, the US Department of Justicefiled BSA violation charges against BitMEX co-founders Arthur Hayes, Ben Delo, Samuel Reid, and Greg Dwyer. Each faced up to five years in prison.

In parallel with the accusations from the Ministry of Justice, the CFTC filed a civil lawsuit against the exchange and its affiliated companies. The defendants were Hayes, Reid and Delo.

Reed was arrested in the United States, he was released on bail of $ 5 million.

In the UK, Delo surrendered to US authorities in March 2021. Hayes flew from Singapore to Hawaii in April, having previously agreed on the terms of a voluntary surrender.

The court also released both on bail. For Hayes, the amount was $ 10 million, and for Delo - $ 20 million. Dwyer, who lived in Bermuda, agreed to extradition in September.

The exchange settled a civil lawsuit by the CFTC, agreeing to a fine of $100 million and an independent audit.

At the end of 2021, Dwyer's lawyers convinced the court to postpone his case until October 2022 due to insufficient time to prepare for the trial.

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