Page 134 - 《期货和衍生品行业监管动态》（2022年合集）
P. 134
期货和衍生品行业监管动态
The orders stem from a CFTC complaint filed on October 1, 2020 against the
entities operating the BitMEX trading platform and their three founders. The
complaint charged the entities and their founders with operating the BitMEX platform
while conducting significant aspects of BitMEX’s business from the U.S., and
unlawfully accepting orders and funds from U.S. customers to trade cryptocurrencies,
including derivatives on bitcoin, ether, and litecoin. The CFTC resolved the action
against the BitMEX entities through a consent order entered on August 10, 2021, that
incorporated a $100 million civil monetary penalty and injunctions against future
violations of the CEA and CFTC regulations.
Case Background
The consent orders find that from at least November 2014 through October 1,
2020, Hayes, Delo, and Reed each controlled BiMEX and are responsible for
BitMEX’s violations of the CEA and CFTC regulations, as charged, because the
co-founders failed to implement and enforce effective controls to prevent or detect
BitMEX’s unlawful conduct. BitMEX’s violations, as found in the court’s August 10,
2021 order, include the operation of a facility to trade or process swaps without
having CFTC approval to operate as a Designated Contract Market (DCM) or a Swap
Execution Facility (SEF). In addition, BitMEX operated as a Futures Commission
Merchant (FCM) without CFTC registration, failed to implement a Customer
Information Program (CIP) and Know-Your-Customer (KYC) procedures, and failed
to implement an adequate Anti-Money Laundering (AML) program.
Parallel Criminal Action
Concurrent with the filing of the CFTC complaint, the U.S. Attorney’s Office for
the Southern District of New York indicted Hayes, Delo, Reed, and one other
individual on charges of willfully causing BitMEX to violate the Bank Secrecy Act
and conspiracy to commit that same offense. Hayes, Delo, and Reed have entered
guilty pleas to Count One of the indictments against them and are scheduled to be
sentenced in the upcoming weeks.
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