Ethereum
$203.11 -1.85%
ETH · 24w

Ethereum Developer Virgil Griffith to Be Released From Jail Pending Trial

A judge ruled that the U.S. Department of Justice has enough evidence to move a case against ethereum developer Virgil Griffith to trial.

Griffith, who was arrested in Los Angeles on Thanksgiving Day on charges of conspiracy to assist the Democratic People’s Republic of Korea (DPRK) in learning more about cryptocurrency for its own benefit, had a preliminary court hearing Monday to determine whether the DOJ had sufficient evidence to establish probable cause.

The U.S. Attorney’s Office of the Southern District of New York said Friday that he had been charged with “violating the International Emergency Economic Powers Act (IEEPA) by traveling to the Democratic People’s Republic of Korea (DPRK or North Korea) in order deliver a presentation and technical advice on using cryptocurrency and blockchain technology to evade sanctions.”

Related: US Arrests Ethereum Developer for Training North Koreans to Evade Sanctions

According to Friday’s complaint, Griffith asked for – and was denied – permission to travel to North Korea in order to give the presentation, titled “Blockchain and Peace.” Moreover, the complaint said, Griffith subsequently “began formulating plans to facilitate the exchange of Cryptocurrency-1 between the DPRK and South Korea,” despite knowing that this would violate U.S. sanctions against the DPRK.

Following the hearing Monday afternoon, Brian Klein of Baker Marquart, who is representing Griffith, said in a statement that the developer will be released from jail after bond is posted.

He added:

“We are very pleased that today the judge found that Virgil should be released from jail pending trial. We dispute the untested allegations in the criminal complaint. Virgil looks forward to his day in court, when the full story can come out.”

Related: Ethereum Scaling Fix Cuts Time to Create a Block in Half, Test Finds

Klein has represented a number of high-profile individuals in the cryptocurrency and...

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