Ethereum Dev Virgil Griffith Pleads Guilty for Violating Sanctions Law
Main page News, US, North Korea, Ethereum, Crypto Market, Regulations

Ethereum developer Virgil Griffith has pleaded guilty in an agreement with federal prosecutors for violating sanctions law after giving a consultation on blockchain-related technologies at a North Korean conference in April 2019. According to journalist Ethan Lou, who attended the hearing, Griffith pled guilty because of the barring of the remote testimony of an Ethereum Foundation lawyer.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

"Virgil was quite emotional. Deep sighs sometimes when he spoke. Unclear what new development caused this guilty plea. The paperwork was signed only yesterday," Lou tweeted.

Report: North Korea Uses Cryptocurrencies to Update Nukes

Griffith has initially faced up to 20 years in prison for consulting North Korea on cryptocurrencies. However, the plea deal has decreased the term down to a maximum of 6.5 years in prison. He will be sentenced on January 13, 2021.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error