We have previously discussed in previous articles on Arab Bitcoin about “Arthur Hayes”, who was the CEO of “BitMEX” and the charges against him and the possibility of his extradition to the United States of America, after he himself expressed a desire to surrender.

He was charged last October with conspiracy to evade money laundering regulations.

According to a Bloomberg report, Hayes surrendered to US authorities to face trial.

Hayes, who was living in Singapore, earlier traveled to Hawaii to turn himself in before being released on $10 million bail as part of a pre-arranged deal with US prosecutors.

The former CEO will face trial in New York along with CEOs Benjamin Delow and Samuel Reed.

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The three defendants were charged with violating the Bank Secrecy Law, which requires financial institutions to take measures to prevent money laundering.

A fourth person, Gregory Dwyer, the head of commercial operations, is in Bermuda and has reportedly not cooperated with US authorities.

BitMEX is a platform for trading cryptocurrency derivatives, such as bitcoin options.

According to CoinMarketCap, it is one of the eight most popular crypto derivatives trading platforms, posting $4.4 billion in trading volume in the past 24 hours.

US prosecutors believe that some of BitMEX’s popularity derives from trading policies that run counter to US law.

The indictment issued in October stated:

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As a result of its failure to implement anti-money laundering and KYC programs, BitMEX has positioned itself as a vehicle for money laundering and sanctions violations.

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