The California district judge overseeing a case against the BitMEX crypto derivatives exchange, William H. Orrick, dismissed plaintiffs’ request to provide them with a “basic knowledge of electronic money” guide.

According to a July 13 report by Law360, the judge responded Tuesday with a unilateral order to the proposal from Bitcoin Manipulation Abatement LLC (BMA), stating that the offer was “not well executed”.

“Plaintiffs believe the cryptocurrency guidelines will benefit the courts. I don’t think so, ”wrote Judge Orrick, adding that plaintiffs“ should focus on the task at hand – and convince me that they have made a reasonable claim ”.

BMA’s complaint was first filed in May 2020, just weeks after the company filed a lawsuit against Ripple and FTX. The lawsuit against BitMEX is now in its fourth iteration.

Plaintiffs allege that BitMEX’s former parent company HDR Global Trading Limited and its executives Arthur Hayes, Ben Delo and Samuel Reed purposely designed the exchange to “facilitate, facilitate, support, and support a wide variety of illegal activities support, advise, advertise and / or procure. “The BMA accused BitMEX of having committed fraud, money laundering and transfer fraud.

An earlier version of the lawsuit was dropped unscathed in March. BitMEX flatly denied the BMA’s claims.

The U.S. Department of Justice accused Delo, Hayes, Reed and BitMEX’s head of business development Gregory Dwyer of violating the Bank Secrecy Act, which filed a complaint against the group in October 2020.

Reed was arrested that same month, while Delo and Hayes voluntarily surrendered to authorities in March and April before being released on bail. The trio will face trial in March 2022, with most of Dwyer remaining.