President Donald Trump has officially granted grace to Arthur Hayes, co -founder of Bitmex, as well as to co -founders Samuel Reed and Benjamin Delo, employee Greg Dwyer and the mother company HDR Global Trading. The decision comes at a time when Crypto again plays a prominent role within the American political landscape.
Trump’s Gratiebolf also affects Bitmex
The grace came a few years after the US Department of Justice expressed heavy accusations against Bitmex in 2020. The indictment revolved around structurally ignoring the Bank Secrecy Act. Customers could use the platform without any form of identity verification, which goes against the American anti-money laundering rules. The case ended in a series of settlements at the time, in which Hayes and his colleagues paid fines and only received conditional penalties.
The stock market itself knew the fault of the same legislation in 2023 and was previously fined 100 million dollars imposed by the Commodity Futures Trading Commission for violating market rules.
Delo responded publicly to the grace with a sharp explanation. According to him, he and his colleagues were unjustly prosecuted. He calls it a political settlement, in which BitMex was used as an example to strengthen a changeable regulation climate. Hayes kept it with a simple “thank you” on X.
Free in prison
This granting is not on its own. In January the controversial release of Ross Ulbricht, founder of Silk Road, followed.
The crypto world has since watched tense, especially now that former FTX CEO Sam Bankman-Fried is attempting to also get into the favor of Trump. His interview with Tucker Carlson from prison, without the permission of the authorities, even resulted in a stay in an isolation cell.
Changpeng Zhao, ex-CEO from Binance and the only person who effectively had to go into the cell for the same violation as Hayes, left. He did not actively seek a grace, but admitted that “no convicted person would refuse a grace”.
The grace for the Bitmex founders marks a possible turning point in how American politics deals with the gray zones of financial innovation. Whether it is a start of a wider trend towards smoother regulations or only symbolic political theater remains the question for the time being.
Claim € 10 free today and do not pay trading costs over the first € 10,000!
Grab this unique opportunity with Newsbit and Bitvavo by creating an account now via the button below. Only deposit € 10 and receive € 10 free of charge. Moreover, you can act without costs for 7 days over your first € 10,000 in transactions. Start today and take advantage of the growing popularity of Crypto!
Make your account and claim € 10 for free.
Don’t miss this opportunity to take advantage of the growing popularity of Crypto!
Source: https://newsbit.nl/trump-verleent-gratie-aan-arthur-hayes-en-bitmex-oprichters/
