News Snapshot:
Arthur Hayes, the founder of once the biggest crypto derivatives exchange, BitMex, has pleaded guilty to violating the Bank Secrecy Act, the US Justice Department said. The exchange did not previously implement AML and KYC requirements which allowed for money laundering and the bypassing of sanctions with the Justice Department stating Iranians used it. “As cryptocurrencies and technologies designed to facilitate their trade proliferate, companies engaged in the virtual currency economy have become critical gatekeepers in efforts to ensure that U.S. markets are fair, efficient, and secure. The opportunities and advantages of operating in the United States are legion, but...
