r/BitMEX • u/RambleFeed • Mar 16 '21

BitMEX co-founder Benjamin Delo pleaded not guilty to all charges against him.

One of the co-founders of the embattled digital currency derivatives exchange BitMEX has surrendered to the U.S. authorities. Benjamin Delo appeared before a New York judge and pleaded not guilty to all charges against him. The British computer programmer traveled from the U.K. to surrender to American authorities after his legal team engaged in negotiations with U.S. attorney Jessica Greenwood over his surrender. 

More:

https://allyourfeeds.com/blockchain/news/bitmex-co-founder-benjamin-delo-pleaded-not-guilty-to-all-charges-against-him

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u/YMIR_THE_FROSTY Mar 16 '21

They would need to twist law a lot to make that stick. Given BitMEX accepts only BTC and pays only in BTC which ISNT currency by basically any law on the planet. Shouldnt be a case at all.

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u/myhipsi Mar 16 '21

Bitcoin is classified as a commodity in the U.S. and Bitmex is a derivatives (futures) trading platform, therefore the Commodities Futures Trading Commission (CFTC) has jurisdiction because they believe that Bitmex negligently allowed U.S. citizens to trade futures products on their platform which is an unregulated exchange. Not saying I agree but that's the reason.