Ex-BitMEX CEO Requests the Ability to Travel Freely During Probation
Quick take:
- After pleading guilty, BitMEX CEO Arthur Hayes asks permission to travel and live freely.
- He also received support from his mother in the form of a letter.
BitMEX co-founder and former CEO Arthur Hayes pleaded guilty to the violation of the Bank Secretary Act in February. According to the report from Bloomberg, Arthur asked for no jail time and permission to travel without constraints.
Arthur might face a six to 12 months prison sentence
Arthur's request is in anticipation of this prison sentencing at the end of this month. Arthur’s lawyers filed for probation with no home detention or confinement as he pleaded guilty, which will send him to prison.
Hayes was fined $10 million, along with former CTO Samuel Reed and BitMEX co-founder Benjamin Delo, for failing to implement an anti-money laundering policy at the exchange.
Arthur receives support from his mother
Hayes got support in the form of a 65-page proposal that included "photographs and letters" from his mother and followers. The submission was given to the judge by his counsel.
“This is a landmark case that has already had an extraordinary and well-publicized impact on Mr. Hayes’s personal life and on the BitMEX business that he co-founded,” the proposal stated.
Prosecutor Damian Williams mentioned that “the opportunities and advantages of operating in the United States are legion, but they carry with them the obligation for those businesses to do their part to help in driving out crime and corruption.”
He also added that Arthur and Benjamin brought up a company that disregarded these obligations. The firm even failed to maintain the most basic anti-money laundering policies allowing BitMEX to operate under the curtains. The guilty plea also reveals the commitment to the investigation and the money laundering in the cryptocurrency sector.
In March, Hayes made some wild assumptions about gold and bitcoin (BTC). In a blog titled “Energy Cancelled,” he spoke on the future of finance and predicts gold to hit the $10,000 level while bitcoin might climb towards $1 million.
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