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The Commodity Futures Trading Commission CFTC recently announced U.S. District Court for the Southern District of New York entered consent orders against three co-founders of a cryptocurrency derivatives trading platform for $30 million in personal civil monetary penalties.
Crypto co-founders personally liable for failure to register digital asset derivatives platform, failure to comply with necessary requirements for violation of the Commodity Exchange Act and operating unregistered futures commissions by Commodity Futures Trading Commission
Washington, D.C. — The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered consent orders against the three co-founders of the BitMEX cryptocurrency derivatives trading platform: Arthur Hayes, Benjamin Delo, and Samuel Reed .
The three co-founders of BitMEX crypto derivatives exchange have been ordered to pay $10 million each in consent payments for violations of American laws and regulations.
<p><span>The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered consent orders against the three co-founders of the BitMEX cryptocurrency derivatives trading platform: Arthur Hayes, Benjamin Delo, and Samuel Reed. The three co-founders are required to pay a total of $30 million civil monetary penalty for their actions. The orders require each to pay a $10 million civil monetary penalty, and also enjoin Hayes, Delo, and Reed from further violations of the Commodity Exchange Act (CEA) and CFTC regulation...