By Jonathan Stempel
NEWYORK – The primary worker of BitMEX pleaded responsible on Monday to violating U.S. financial institution secrecy legal guidelines by failing to determine an anti-money laundering program, following responsible pleas to the identical cost by the cryptocurrency change’s three co-founders.
Gregory Dwyer, 39, of Australia and Bermuda, entered his plea earlier than U.S. District Decide John Koeltl in Manhattan. He additionally agreed to pay a $150,000 fantastic.
Prosecutors stated that from 2015 to 2020, Dwyer and BitMEX founders Benjamin Delo, Arthur Hayes and Samuel Reed willfully violated the federal Financial institution Secrecy Act by failing to undertake anti-money laundering and “know your buyer” packages, successfully turning the change right into a cash laundering platform.
Dwyer served as head of enterprise improvement at BitMEX, quick for Bitcoin Mercantile Trade.
He might withstand 5 years in jail, although Delo, Hayes and Reed have been every sentenced to probation.
A lawyer for Dwyer didn't instantly reply to requests for remark.
BitMEX agreed final August to pay as much as $100 million to settle civil costs by two U.S. monetary regulators that it didn't correctly display clients, and accepted buyer funds to commerce cryptocurrencies with out being registered.
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