Key Question
What US law did BitMEX's Ben Delo plead guilty under?
Timeline for Bank Secrecy Act
#17 3 Sept
Mentioned in: Delo's £4m arrived as cash, not crypto
UK Local Elections 2026#2 15 Apr
Mentioned in: ORG brands UK tech dependency a risk
European Tech SovereigntyBackground
The Bank Secrecy Act is a United States anti-money-laundering law. It remains relevant because it provides the legal basis for enforcement cases concerning financial controls and reporting failures.
Its application to BitMEX placed the law at the centre of the case against co-founder Ben Delo, who pleaded guilty in 2022 and received 30 months' probation. The case illustrates how the Act can shape liability where an exchange's anti-money-laundering arrangements fail.
Common Questions
What is the Bank Secrecy Act?
A US anti-money-laundering law that requires financial institutions to help detect and prevent money laundering.Source: Wikipedia
Who pleaded guilty under the Bank Secrecy Act in the BitMEX case?
Was Ben Delo pardoned for his Bank Secrecy Act conviction?
Yes. President Trump pardoned him in March 2025.Source: Wikipedia
How the World Sees Them
Rhun ap Iorwerth / Welsh Government (Plaid Cymru)
the outcomes it delivers
Michael Marra / Scottish Labour
Scots know what we are against. They can't tell you what we are for.
Andy Burnham / Labour Party
contest the next election with a manifesto commitment to change the electoral system so that everyone's vote counts and everyone's voice is heard
Reform UK
fully cooperate with the investigation
Steff Aquarone / Liberal Democrats (North Norfolk)
made to waste £600,000
Stephen Atkinson / Lancashire County Council (Reform UK)
the opportunity to challenge the July decision
Jim McMahon / Ministry of Housing, Communities and Local Government
following updated legal advice
Democratic Unionist Party
goaded
Rupert Lowe / Restore Britain
Reform-sponsored media circus
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 3 September 2026. Editorial standards.