The U.S. criminal trial for BitMex’s former head of business development, Greg Dwyer, has been delayed.
U.S. regulators first took aim at the crypto derivatives exchange in October 2020, when a number of charges came down on the exchange and its operators. Civil charges from the Commodities Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN) claimed BitMEX and its executives violated CFTC rules, like anti-money laundering and know-your-customer procedures. Criminal charges from the Department of Justice claimed co-founders Arthur Hayes, Ben Delo, Samuel Reed and head of business development Dwyer violated the Bank Secrecy Act.
In August of 2021, the CFTC and FinCEN settled their suits with BitMEX. The firm will pay the regulators $100 million and is barred from offering derivatives products and swaps without CFTC approval. The criminal cases against Hayes, Delo, Reed and Dwyer, however, are still ongoing.
Dwyer faces up to five years for alleg
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