Arthur Hayes is the father of all censors; operates in the shadow of laws & regulations, says Dr. Doom

  • 17 July 2019, Wednesday, 11:10

Everything that has been discovered or invented, from the discovery of fire by early humans to the invention of the Atomic Bomb and Bitcoin, everything has two sides to it. Everything has a boon and bane attached to it, and the same is true of cryptocurrencies. And it would seem that the debate surrounding this will come to an end only when Democrats and Republicans finally agree with each other.

Nouriel Roubini aka Dr. Doom, unsatisfied with the ‘Tangle in Taipei,’ penned an article which vividly explained his concerns about the cryptocurrency ecosystem and its players, including BitMEX. Roubini spoke of how most of the cryptocurrency ecosystem works outside the domain of official financial oversight, allowing a surfeit of “criminal activities” like money laundering, spoofing, faking volumes, pump and dumping schemes.

Roubini alleged that BitMEX is one of the exchanges involved in money laundering on a daily basis. More specifically, he stated,

“BitMEX insiders revealed to me that this exchange is also used daily for money laundering on a massive scale by terrorists and other criminals from Russia, Iran, and elsewhere; the exchange does nothing to stop this, as it profits from these transactions.”

Adding to the above, Roubini also pointed out that BitMEX’s for-profit, with the internal trading desk previously accused of front-running its clients.

“At any rate, we do know that BitMEX skirts AML/KYC regulations. Though it claims not to serve US and UK investors who are subject to such laws, its method of “verifying” their citizenship is to check their IP address, which can easily be masked with a standard VPN application. This lack of due diligence constitutes a brazen violation of securities laws and regulations. Hayes even openly challenged anyone to try to sue him in the unregulated Seychelles, knowing he operates in the shadow of laws and regulations.”

Dr. Doom went on to call Arthur Hayes the “father of all censors,” due to him acquiring the rights to the debate that took place in Taipei. Roubini accused Hayes of posting video clips out of context, making it seem that Hayes won the debate.