BitMEX Co-founder is Sentenced to Probation

A New York federal court has sentenced Benjamin Delo, co-founder of crypto derivatives exchange BitMEX, to 30 months probation on charges of violating the Bank Secrecy Act (BSA), CoinDesk has reported.

The defense has thanked the court for dismissing “the government’s cynical attempt to exaggerate the seriousness of the charge.”

According to the laywer:

“In today’s probation sentence, it is recognized that this case is due to non-compliance, which led to a violation of regulations, and nothing more.”

The case of violation of the BSA was initiated by the US Department of Justice in October 2020. In February this year, BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reid pleaded guilty and agreed to pay fines of $10 million each.