Home » CFTC charges BitMex with illegally operating derivatives exchange
Policy & Regulations

CFTC charges BitMex with illegally operating derivatives exchange

CFTC charges BitMex with illegally operating derivatives exchange

The united statesCommodity Futures Buying and selling Fee, or CFTC, has charged the BitMEX derivatives alternate with working an unregistered buying and selling platform and violating anti-money laundering rules.

Based on an announcement launched Thursday, the CFTC filed a civil enforcement motion within the Southern District of New York in opposition to 5 entities and three people who allegedly personal and function the alternate.

The people charged embody Arthur Hayes, publicly referred to as the CEO of BitMEX, in addition to Ben Delo and Samuel Reed. The CFTC alleges that these people are homeowners and operators of BitMEX by means of a “maze of company entities.”

The aforementioned company entities, who’re additionally cited as defendants within the case, are HDR International Buying and selling Restricted, 100x Holding Restricted, ABS International Buying and selling Restricted,Shine Effort Inc Restricted, and HDR International Companies (Bermuda) Restricted (BitMEX).

The CFTC seeks disgorgement, or restitution of all “ill-gotten positive aspects,” civil financial penalties, everlasting buying and selling bans and injunctions in opposition to future violations.