New York Court fines BitMEX founders to pay $30M civil penalty

in #bitmex • 3 years ago

BitMex three co-founders have been order to pay $30 million fines for what the CETC calls their involvement in serious violations of regulations and the Commodity Exchange Act.

New York Court fines BitMEX founders to pay $30M civil penalty.jpg

According to the CFTC Statment Hayes, Benjamin Delo, and Samuel Reed were each fined $10 million in consent payments, in this statement Commodity Futures Trading Commission (CFTC) after a court battle on Thursday in which the CFTC said they violated aspects of the Commodity Exchange Act and CFTC regulation from November 2014 to October 2020.

CFTC Commissioner Caroline D. Pham said enabling "unregistered companies" to function in violation of the law gives "wrongdoers with an unfair advantage over those who are doing the right thing" by adhering to the rules laid down by the regulators. She added

Read full story at https://cryptounity.news/new-york-court-fines-bitmex-founders-to-pay-30m-civil-

3 years ago in #bitmex by
$0.00
    Reply 0

    Coin Marketplace

    STEEM 0.17
    TRX 0.24
    JST 0.034
    BTC 96422.40
    ETH 2763.88
    SBD 0.67