Hayes hopes the federal judge can be lenient; he doesn’t want to go to jail and wants to travel freely. Lawyers filed a request this week.
The co-founder and former chief executive of cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. platform a place to buy, sell and store cryptocurrency BitMEX Arthur Hayes, has asked a U.S. court to spare him a prison sentence.
Hayes, who pleaded guilty in February for evading anti-money laundering (AML) regulations while he was still running the exchange, asked a federal judge in New York for a light sentence that does not include jail time and allows him to travel freely. The news outlet Bloomberg he said.
According to the report, the former CEO’s attorneys filed a request for parole ” no house arrest or community confinement ” . The plea comes after legal representatives reached a plea deal with prosecutors that would send Hayes to prison for six to 12 months under federal rules.
The publication emphasizes that Hayes has requested to be able to travel and live freely abroad. The more than 60-page document, submitted by the lawyers, also included photographs and letters from his supporters, according to Bloomberg .
The case of BitMEX
As reported by DiarioBitcoin Hayes and his co-founding partner, Benjamin Delo, pleaded guilty to violating the U.S. Bank Secrecy Act. Earlier this year, the two acknowledged in a U.S. court that they had operated the platform. BitMEX without applying the relevant AML anti-money-laundering laws, regulations, and procedures that aim to end the unlawful income practices. measures, and allowing U.S. residents to trade on the platform.
The guilty plea was the end point of an extensive legal battle. Founded in 2014, BitMEX fell under intense regulatory scrutiny in 2019, when with the Commodity Futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Trading Commission (CFTC) and the Financial Crimes Enforcement Network a network refers to all nodes in the operation of a blockchain at any given moment in time. (FinCEN) accused the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. and its founders of intentionally evading U.S. laws.
The case was settled in August 2021, after the company agree to pay USD $100 million to resolve the charges. Hayes, who resigned as CEO of the company shortly after the charges against him were filed, had surrendered to authorities earlier in the year, in April, along with Delo. Both posted $10 million bail each to be released as part of a pre-arranged agreement with prosecutors.
A compassionate sentence
In addition to requesting a lenient sentence for Hayes, the attorneys argued that “ unlikely to be a repeat offender “. In the letter, they also argued that the co-founder’s conviction sets a precedent in the emerging area of finance and markets in the United States, and could be used in future prosecutions of financial crimes related to cryptocurrency exchanges globally.
“This is a landmark case that has already had an extraordinary and well-publicized impact on Mr. Hayes’ personal life and the BitMEX business he co-founded.” wrote the representatives in the letter, as quoted by Bloomberg.
In a last letter Hayes had acknowledged responsibility for his actions and had said that he “ looks forward to the time when he can put this matter behind him. “.
While their sentencing has not yet been decided, an earlier report by the U.S. Department of Justice indicated that each of the co-founders could face a maximum sentence of 5 years in prison . The most recent report from Bloomberg adds that the government has not yet submitted a sentencing recommendation. A The court’s verdict is expected by the end of this month.
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Article by Hannah Estefania Perez / DiarioBitcoin
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