Judge Denies BitMEX Plaintiffs To Give Crypto Lessons

A judge has turned down BitMEX plaintiffs’ offer to teach basic crypto lessons, telling them to focus on the task at hand as we learn more on the latest crypto news.

California district judge overseeing a case against BitMEX, William H. Orrick, dismissed plaintiffs’ request to provide them with a tutorial on crypto basics. According to a report, Judge declined the offer and responded to Bitcoin Manipulation Abatement LLC’s suggestion with a unilateral order stating that the offer had not been well executed. Judge Orrick wrote:

“Plaintiffs believe the cryptocurrency guidelines will benefit the courts. I don’t think so, ”added that plaintiffs“ should focus on the task at hand – convincing me that they have made a legitimate claim. “

BMA’s complaint was filed in May 2020, weeks after the company filed a lawsuit against FTX and Ripple. The lawsuit against BitMEX is now in its fourth iteration. Plaintiffs allege that BitMEX’s former parent company, HDR Global Trading Limited, and Ben Delo, Samuel Reed and Arthur Hayes designed the platform to enable and facilitate, instigate and conduct illegal activities. The BMA claims that BitMEX committed fraud, money transfer fraud and money laundering. An earlier version of the lawsuit was dismissed unscathed in March when BitMEX denied BMA’s claims. The U.S. Department of Justice accused Hayes, Reed and Delo, as well as chief executive Gregory Dwyer, of violating the bank secrecy law after filing a complaint against the group in 2020. Reed was arrested and Delo and Hayes surrendered to the authorities before they were released. Deposit.

As recently reported, Hayes has been charged with breaking the banking secrecy law with conspiracy to circumvent money laundering regulations. BitMEX co-founder Arthur Hayes has surrendered to the US authorities and is currently waiting for his trial. Hayes lives in Singapore and flew to Hawaii to apply for himself before being released on $ 10 million bail due to a deal with U.S. prosecutors. The former manager will be tried in New York along with Benjamin Delo and Samuel Reed. All three are accused of violating the law on banking secrecy, which obliges institutions to take action and prevent money laundering.

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