Arthur Hayes faces up to five years in his Friday sentencing, but jail time is unlikely by AislinnKeely
that required it to pay a $100 million penalty and barred it from offering derivatives products in the US.
It marks a significant enforcement action against a crypto firm for BSA violations – a level of compliance that wasn't always upheld by the industry. In the BitMEX case, the US has made it clear that adherence to existing traditional finance guidelines around anti-money laundering is mandatory. The guidelines for felony BSA charges range from six to 12 months. For guidelines of that range, Nawaday says there's often a good chance of avoiding jail time. Additionally, in Hayes's case, the probation department came out in favor of no jail time and two years probation, though the prosecution has pushed for a one-year minimum sentence.
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