World News – GB – Youngest British billionaire and Bitcoin Exchange co-founder accused of money laundering in the United States


The accusations are the latest in years of efforts by the United States to crack down on a cryptocurrency market that was once largely unregulated

Britain’s youngest self-made billionaire and founder of the Bitcoin exchange has been accused in the United States of willfully failing to prevent money laundering

Ben Delo, 36, Oxford graduate, is accused along with three other BitMEX co-founders of conspiring to violate the Bank Secrecy Act, according to an indictment filed in the Southern District of New York on Thursday

M Delo, Arthur Hayes and Samuel Reed, who jointly founded the cryptocurrency derivatives trading platform in 2014, were required to register with the Commodity Futures Trading Commission and set up a program to fight against money laundering, but « chose to ignore these demands, » US prosecutors allege

While knowing BitMEX’s obligation to implement anti-money laundering programs because they served US clients, the founders formally incorporated the company in Seychelles – a jurisdiction which they claim , had less stringent regulations

The accusations are the most recent in a year of US efforts to crack down on a cryptocurrency market that was once largely unregulated

“With the opportunities and benefits of operating a financial institution in the United States comes an obligation for these companies to do their part to help drive out crime and corruption,” said Audrey Strauss, Interim American Lawyer in Manhattan

« As alleged, these defendants have ignored this obligation and are committed to operating an allegedly ‘off-shore’ crypto exchange while deliberately failing to implement and maintain anti-money laundering policies. silver, even basic « 

The legal representatives of M Dwyer said: « We are surprised and appalled by today’s action. Our client, Greg Dwyer, who has fully complied with the CFTC investigation and has never been asked to speak with attorneys at the United States Attorney’s Office in Manhattan, has always worked in good faith to comply with all applicable regulations and requirements We will strongly challenge these accusations « 

M Delo started his career as a software engineer at IBM, where he was named inventor on several issued patents

He then founded BitMEX with M Hayes, which was estimated to be worth $ 3.6 billion (£ 2.8 billion) in 2018 M Delo owns 30% of the company, making his net worth over $ 1 billion

M Delo, who now lives with his wife in Hong Kong, told the newspaper that he « owns only three pairs of shoes – sneakers, a pair of ‘sane’ leather brogues and flip flops » and that he and his woman « Use special offer coupons when shopping for meals at McDonald’s »

In 2019, he signed The Giving Pledge, a program orchestrated by Bill Gates and Warren Buffett, announcing his intention to cede at least half of his wealth during his lifetime

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Bitcoin, Commodity Futures Trading Commission, cryptocurrency exchange, money laundering

News from the world – GB – UK’s youngest billionaire and co-founder of the Bitcoin exchange indicted for money laundering in the United States


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