ETH developer pleads guilty for conspiracy to violate sanctions laws

The plea deal ends a nearly two-year legal battle between Griffith and U.S. prosecutors tied to a presentation the developer gave in Pyongyang. Read the full article by: Sam Bourgi

Key Points:

• Many of the original ETH developers have paved their own paths with their own projects such as Cardano and Polkadot but Virgil Griffith has pleaded guilty to charges of conspiracy against the US with North Korea.

• Griffith pleaded guilty to sending technology and intellectual properties to a communist country which is a violation of the International Emergency Economic Powers Act.

• He is facing up to six-and-a-half years as part of the plea deal as prosecutors allege that Griffith gave a presentation on how to launder money and evade sanctions using blockchain technology.

• Virgil Griffith pleaded guilty on Monday and formal sentencing is set for 2022.