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>"‘Seychelles is cheaper to bribe than [the United States]’ and when asked how much he had to pay Seychelles to register BitMEX there, he said ‘a coconut.’" In
by coderintherye 6y ago
>"‘Seychelles is cheaper to bribe than [the United States]’ and when asked how much he had to pay Seychelles to register BitMEX there, he said ‘a coconut.’"
In government regulated finance, our counsel had very good advice: Don't provoke the regulators.
- nlh 6y agoGreat quote from the press release: "One defendant went as far as to brag the company incorporated in a jurisdiction outside the U.S. because bribing regulators in that jurisdiction cost just ‘a coconut.’ Thanks to the diligent work of our agents, analysts, and partners with the CFTC, they will soon learn the price of their alleged crimes will not be paid with tropical fruit, but rather could result in fines, restitution, and federal prison time."
- deleted 6y ago[deleted]
- nmlnn 6y agoWould be less cringy if they would go after the management of TBTF banks based on the same logic.
- hoseja 6y agoWhy would they go after their employers?
- dannyw 6y ago3 of the 4 defendants "remain at large", and live in countries w/o US extradition treaties. I wouldn't be surprised to see BitMEX continue operating for the next 10 years. Their exchange is simply the best.