Benjamin Delo, co-founder of crypto exchange BitMEX will not face prison after a guilty plea but spend 30 months on probation. He was sentenced in New York federal court on Wendesday for violating US anti-money-laundering regulation.
As part of a deal with prosecutors and the CFTC, Delo also paid a $10 million criminal fine. He pleaded guilty in February to a count of violating the Bank Secrecy Act.
The saga began in October 2020, when the CFTC filed a complaint against BitMEX trading platform and its co-founders for operating the business from the US without any license.
Two other co-founders of BitMEX, Arthur Hayes and Samuel Reed, have also pleaded guilty to defying AML rules. Hays was already sentenced in May to serve six months in house arrest and two years’ probation. Reed will be sentenced in July.
BitMex already settled with US regulators earlier last year and agreed to pay a $100 million penalty.