Ethereum researcher Virgil Griffith to be released on bail.

Virgil Griffith, who was arrested by the FBI on 29th November for allegedly helping North Korea evade US sanctions using cryptocurrency and blockchain, will be released on bail after posting a bond until the trial.

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Virgil Griffith’s lawyer Brian Klein informed on twitter that the judge allowed Griffith to be released from jail until the trial. Klein also added that they dispute all the untested allegations in the complaint.

 

Virgil was warned not to travel to North Korea.

According to Friday’s complaint, Virgil Griffith was denied permission to travel to North Korea and give a presentation titled “Blockchain and Peace.” It is alleged that Griffith explained how to facilitate the exchange of cryptocurrency between North Korea and South Korea despite knowing that it would violate US sanctions against the Democratic People’s Republic of Korea.

Virgil has been charged with “violating the International Emergency Economic Powers Act (IEEPA) and, if convicted, might face up to 20 years in prison.

 

Ethereum founder Vitalik Buterin defends Griffith.

Etehreum co-founder Vitalik Buterin in a series of tweets, defended Virgil’s trip to North Korea. However, he clarified that Virgil’s visit had nothing to do with Ethereum. Vitalik also said that Griffith was counseled against for his visit to North Korea. Many from the crypto community have come in support of Griffith as he only revealed information in his presentation that is publicly available. Vitalik also signed a petition to get Griffith out of jail.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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