BitMEX CEO Arthur Hayes has been sentenced to two years on probation.

Arthur Hayes, co-founder and former CEO of the cryptocurrency derivatives platform BitMEX, was sentenced to two years probation, with the first six months served at home. The Commodity Futures Trading Commission (CFTC) accused the company’s co-founders of running a digital asset trading platform without proper anti-money laundering laws in late 2020.

According to US Attorney Samuel Raymond, this is a “very severe violation,” and he added:

“There were real consequences. When individuals like Mr. Hayes operate platforms without anti-money-laundering programs or know-your-customer programs, they become a magnet for people to launder money.”