Virgil Griffith: I helped North Korea Avoid U.S. Sanctions

Cryptocurrency expert Virgil Griffith confessed yesterday that he helped North Korea evade U.S. sanctions by conspiring to violate the International Law on Economic Emergency Forces (IEEPA) and Executive Order 13466.

- Advertisement -

Griffith, who worked as a special programmer and researcher for the Ethereum Foundation, was arrested in November 2019 by the FBI.

His arrest came after he traveled to North Korea to show the country how to use cryptocurrency and blockchain technology (i.e. smart contracts) to launder money and avoid sanctions.

The defendant also talked about how North Korea could use cryptocurrencies to gain independence from the global banking system.

He went to North Korea, even though he was denied permission by the U.S. Department of State, and knew that doing so would violate U.S. sanctions against North Korea without permission from the Treasury Department, the Office of Foreign Asset Control (OFAC).

According to court documents, the cryptocurrency specialist chose to obtain his travel visa on a separate paper instead of his U.S. passport to avoid creating physical receipts for his trip to North Korea.

Faces 20 years in prison

After pleading guilty, Griffith, a U.S. citizen, and resident of Singapore face a maximum sentence of 20 years in prison. He is scheduled to stand trial next year, on January 18, 2022.

Previous Articles:

- Advertisement -

Latest

Michael Saylor Invites Joe Rogan to Discuss Bitcoin on Podcast

Michael Saylor has shown interest in discussing Bitcoin on The Joe Rogan Experience podcast.The idea has generated excitement in the Bitcoin community, with some...

Congress Debates Stablecoin Bill Amid Rising Bank and Crypto Tensions

U.S. lawmakers are moving forward with the Senate Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, with debates set to resume after...

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

South Korea Election Puts Crypto Policy at Center of Debate

Nearly one-third of South Koreans hold digital assets, making crypto a vital issue in the upcoming presidential election.Both major parties support crypto exchange-traded funds...

Must Read

Top 10 Best Blockchain Games

If you want to know about the best blockchain games then read this article carefully. We listed the best games you can play and...