Commodity Futures Trading Commission (CFTC) Commissioner Caroline D. Pham today released the following statement regarding the entry of consent orders by the U.S. District Court for the Southern District of New York against three BitMEX co-founders: Arthur Hayes, Benjamin Delo, and Samuel Reed.

“Today’s orders, which include $30 million in penalties, highlight the CFTC’s leading role in bringing digital assets within the regulatory perimeter so that important protections for customers and market participants apply. These orders show that the CFTC continues to relentlessly uphold its mission to promote market integrity, responsible innovation, and fair competition, all of which enables growth in compliant digital asset markets. Allowing unregistered companies to operate in violation of the law provides wrongdoers with an unfair advantage over those who are doing the right thing by following CFTC rules. By enforcing individual accountability for registration, market conduct, and anti-money laundering rules—fundamental aspects of the U.S. regulatory framework—the CFTC is ensuring that BitMEX’s management is held responsible after last year’s $100 million dollar settlement with corporate defendants. I would like to recognize the tireless efforts of the Division of Enforcement staff, who pursued these charges and achieved these successful results.”