Ethereum Developer Virgil Griffith Formally Charged

Crypto News

The U.S. Attorney’s Office has formally charged Ethereum developer Virgil Griffith with conspiracy to violate the Economic Sanctions Act.

Griffith is accused of violating the Emergency Economic Measures Act (IEEPA) in connection with his unauthorized trip to North Korea, where he participated in a blockchain conference.

According to the American authorities, Griffith taught representatives of the country to circumvent economic sanctions using cryptocurrencies and blockchain. The accusation is quite serious and, if his guilty plea, the developer of Ethereum faces up to 20 years in prison.

Recall that Griffith was arrested at the end of November at the Los Angeles International Airport. Earlier it was reported that he would be released on bail pending trial, but later this was refused. In late December, Griffith was again allowed to go on bail of $ 1 million, but he still remains in custody.

“Griffith is not satisfied with the bail conditions. He is awaiting the approval of his guarantors, as well as the possibility of using real estate to secure collateral, ”the Inner City Press reports.