The former chief executive officer of BitMEX cryptocurrency exchange, Arthur Hayes, has turned himself in. According to a Bloomberg report, although Hayes currently resides in Singapore, he appeared in a Honolulu courtroom on charges related to alleged violations of know-your-customer laws in the United States. He was released on a $10 million bond pending forthcoming court proceedings in New York.

After failing to implement anti-money laundering procedures that are required by businesses operating within the North American jurisdiction, the executives responsible for the exchange were indicted on charges of violating the U.S. Bank Secrecy Act.

In March of this year, BitMEX co-founder Ben Delo surrendered to authorities and was arraigned in New York. It is unknown if this spurred any motivation within Hayes to surrender himself, but it is apparent that the cryptocurrency executives have leverage of some kind, given their ability to evade being charged until now.

Bloomberg reports that Hayes’ lawyer stated, “Arthur Hayes is a self-made entrepreneur who has been wrongly accused of crimes that he did not commit,” and, “Mr. Hayes voluntarily appeared in court and looks forward to fighting these unwarranted charges.”

The self-sovereignty of individuals has only increased since the inception of Bitcoin, and will continue to increase. The ability to remain a productive citizen while fighting charges as immense as those brought against Hayes indicate clear advancement in the capacity of the common people to defend themselves against the state.

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Source: https://bitcoinmagazine.com/culture/bitmexs-arthur-hayes-surrenders-to-authorities