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Cheyenne Ligon
Cheyenne Ligon is a CoinDesk news writer with a focus on cryptography regulation and policy. It has no important crypto assets.
Former BITMEX CEO Arthur Hayes was sentenced to two years probation, with house arrest for six months with location monitoring in a federal court in New York on Friday. Hayed had plead guilty in February to charges that he willfully failed to implement an anti-money laundering (AML) program at the exchange.
Hayes and his bitmex co-founders, Samuel Reed and Ben Delo, as well as the company's first employee, Gregory Dwyer, were initially charged in October. 2020 with one count each of violating the Bank Secrecy Act (BSA), and another of conspiring to do so.
Hayes, a U.S. citizen and long-time resident of Singapore, visited U.S. authorities in Hawaii last April under an agreement between his lawyers and federal prosecutors. He was released on $10 million bail backed by $1 million in cash and co-signed by his mother.
This is an evolving story to be updated.
Read more: BitMEX Starts Spot Exchange on Eve of Co-Founder Hayes's Sentencing
