After pleading with the US authorities that he should not spend any time in prison, Arthur Hayes got his wish, but under certain circumstances.
by Bloomberg, the sentencing became official yesterday, in which the US District Judge John Koeltl granted Hayes’ wish, and he will not head to prison. Instead, he got a two-year probation sentence and will have to spend the first six months in home confinement.that Hayes’ punishment should be more severe and should send a signal to the entire crypto industry.
“There were real consequences. When individuals like Mr. Hayes operate platforms without anti-money-laundering programs or know-your-customer programs, they become a magnet for people to launder money.” The Assistant Attorney added that such a light sentence will “send a message to him that the cost of doing business is merely a fine, and he could continue to violate the law for huge amounts and pay any fine. This case is being closely watched by cryptocurrency exchanges and other companies around the world.”
On the other hand, Hayes took full responsibility for his actions and promised that he was “ready to turn the page and start again.”