His legal team has submitted documents including a letter for his mother that requests leniency — months after he pleaded guilty to violating the Bank Secrecy Act.
A crypto executive who has pleaded guilty to violating the Bank Secrecy Act is trying to avoid being sent to jail.
Former BitMEX CEO Arthur Hayes has asked a judge for leniency — and he also wants the freedom to live abroad and travel.
His legal team has submitted documents including a letter for his mother that requests leniency.
Hayes previously admitted that BitMEX, a crypto trading platform, had operated with poor anti-money laundering checks in place.
He's already agreed to pay a fine of $10 million — and signed a plea deal that means he faces six to 12 months behind bars.
But his lawyers are now arguing that Hayes is unlikely to be a repeat offender, and they're warning that this case will set a precedent for prosecuting financial crimes at crypto exchanges worldwide.
Hayes is going to be sentenced by a judge in Manhattan later this month.