BitMEX Co-Founder Arthur Hayes Granted US Presidential Pardon

United States President Donald Trump has granted BitMEX co-founder Arthur Hayes a full pardon. The unexpected Presidential pardon was also extended to Samuel Reed and Benjamin Delo, who pleaded guilty to violating the Bank Secrecy Act (BSA).

The Unexpected BitMEX Co-Founders’ Pardon

This Presidential pardon is the second high-profile move in the cryptocurrency industry since President Trump was inaugurated. Earlier, they granted unconditional Pardon to Ross Ulbricht, the founder of the Silk Road marketplace.

The pardon of Arthur Hayes and other executives was previously not anticipated in the industry. Notably, the trio have settled their money laundering cases with US regulators, leaving them with no major legal obligations.

This pardon comes about three months after BitMEX settled its case with the US Department of Justice (DoJ). In July 2024, as reported by CoinGape, BitMEX pleaded guilty to violating the BSA as regulators flagged email-only registration requirements.

Many believed the BitMEX executives had paid their penance when they pleaded guilty to the charges. The trio paid a total of $30 million in fines and received different-duration incarceration sentences.

Beyond BitMEX: Positive Shift Under President Donald Trump

Based on current trends, cryptocurrency regulations in the US are taking a new turn. This is evident from the current actions of key regulators like the US SEC, which show a less stifling crypto regulatory stance. 

A recent example of the pivot is the SEC’s decision to drop charges against Hailey Welch, known as the Hawk Tuah Girl, after investigating the controversial $HAWK token. 

The security oversight had previously launched a probe into the token’s rise and collapse, but after months of scrutiny, Welch is now cleared of any wrongdoing.

This decision marks a shift from the enforcement-heavy tactics of previous years. Instead of punishing individuals without solid evidence, the SEC’s conclusion suggests a move towards a more balanced regulatory approach. 

Future of Crypto Regulation at the US SEC

It is worth noting that Paul Atkins’ nomination could be a defining moment for the crypto industry. Unlike his predecessor, Gary Gensler, who relied on enforcement actions, Atkins said at his recent Senate confirmation hearing that he is committed to providing clear, structured regulations for the industry.

Many experts believe that if he follows through on this, it could encourage more institutional investment and broader adoption of digital assets. However, his crypto investments, which total nearly $6 million, have raised concerns about potential conflicts of interest. 

Meanwhile, critics, including Senator Elizabeth Warren, have questioned his financial ties to the digital assets industry. The question now hinges on whether this could affect his commitment to making transparent and conscientious decisions.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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