Delo was released after posting a bond of $20 million.
On Monday, one of the owners of BitMEX, a cryptocurrency derivatives exchange, surrendered to US authorities on charges of violating the Bank Secrecy Act.
According to public court documents, Ben Delo moved from the United Kingdom to the United States and appeared before Magistrate Judge Sarah L. Cave in a remote proceeding, where he pleaded not guilty.
According to court documents, he was released on a $20 million bail bond on Monday, with a status conference scheduled for May. Delo will be able to return to the UK under the terms of his bail, according to Bloomberg.
Last October, the US Department of Justice and the Commodity Futures Trading Commission charged Delo, along with BitMEX co-founders Arthur Hayes and Samuel Reed, with violating the BSA and conspiring to violate the BSA.
Gregory Dwyer, BitMEX’s first employee, was also charged.
Financial institutions are expected to provide reports to regulators for transactions over $10,000 under the BSA. Its stated goal is to deter criminals from laundering large amounts of money through banks and other financial institutions.
According to Rachel Miller, a Delo spokesperson, the charges against Ben are baseless and reflect unwarranted overreach by US authorities. “Ben intends to defend himself against the charges and clear his name in court.”
Jessica Greenwood, an assistant US attorney for the Southern District of New York, said earlier this month that she had been in contact with Hayes’ lawyers. Greenwood claimed to have negotiated with counsel how to arrange for Hayes’ voluntary surrender and an agreement to appear remotely or come to New York “as required,” according to court records.
Last year, Reed was arrested and later released on bail. Meanwhile, Dwyer is still on the loose.