Follow Us

BitMEX Co-Founder Confronted UK ICO for Holding Back Data 

Share on facebook
Share on twitter
Share on linkedin

Share

BitMEX
Share on facebook
Share on twitter
Share on linkedin

ICO failed to secure personal information rights of Delo, said solicitor Matt Getz. 

– Crypto derivative firm, BitMEX, is not allowed to operate in the United States

-BitMEX co-founders were indicted by the US Justice Department 

Co-founder of BitMEX – Benjamin Delo – opposed actions of Information Commissioner’s Office (ICO) alleging them of retaining his own data rights. Reports are that crypto derivative platform officials received permission for a judicial review on the United Kingdom’s authority. Delo argued that ICO did not permit his rights over his personal information. 

Matt Getz – solicitor to represent Delo’s case – said that Delo received approval from the UK High Courts for his legal actions request against the financial watchdog of England. He stated that his client decided to take legal actions with hesitation yet he did in order to ensure Wise like entitled to entirely adhere to their responsibilities towards the data protection. Delo also wanted the ICO to sustain every individual’s information rights that would be in public interest, Getz added. 

In October, 2020, United States Department of Justice accused BitMEX co-founders Arthur Hayes and Benjamin Delo, with two other high officials at the crypto derivative firm. The DOJ put charges against BitMEX employees that they illegally operated the crypto derivative company while violating the Bank Secrecy Act of the US. 

Both the co-founders of BitMEX pleaded guilty for violating the same act. The allegations came in the wake of their inability to operate a successful and working anti-money laundering program at the crypto firm. In February, 2022, the Commission of Futures and Trading Commission made the co-founders pay a civil monetary penalty worth 10 million USD.

In June this year, Delo was condemned for a probation of 30 months long period excluding home confinement. On the other hand, Hayes was sentenced for two years probation and six home detention of six months. Additionally, his location was also said to be monitored. 

Nancy J. Allen

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

Welcome Back!

Login to your account below

Retrieve your password

Please enter your username or email address to reset your password.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00