Smith Villazor represented Ben Delo, one of three co-founders of BitMEX, a cryptocurrency derivatives exchange founded in 2014. In October 2020, the U.S. Attorney’s Office for the Southern District of New York charged Ben, the other co-founders, and an employee of BitMEX with violating the BSA because BitMEX failed to implement a BSA-compliant AML policy that included a know-your-customer program — the first time DOJ had brought such stand-alone charges against individuals. Following a plea agreement, the Hon. John G. Koeltl sentenced Ben to 30 months probation. News coverage can be found here and here.
Smith Villazor client receives probationary sentence in first-of-its-kind Bank Secrecy Act prosecution of founders of cryptocurrency derivatives exchange.
June 16, 2022
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