2024

April

Tornado Cash

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Keonne Rodriguez, a Samourai Wallet co-founder, has pleaded not guilty to his alleged role in operating a crypto mixer service. This case develops as the <a href="https://coingape.com/cryptoquant-ceo-slams-doj-for-charges-against-samourai-wallet-founders/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">U.S. authorities</a> increase their surveillance over technologies aimed at improving the privacy of cryptocurrency transactions.
<h2 id="charges-and-court-appearance">Charges and Court Appearance</h2>
Rodriguez, 35, was accused in the U.S. District Court for the Southern District of New York of conspiracy to commit money laundering and to operate an unlicensed money-transmitting business.
The charges are based on allegations that <a href="https://coingape.com/doj-arrests-samourai-wallet-duo-for-laundering-100m/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">Samourai Wallet</a> allowed over $100 million in money laundering transactions bound to the illegal dark web market. The prosecution alleges that during the period of 2015-2024, the wallet conducted unlawful transactions totaling over 2 billion dollars.
At his court-related appearance, Rodriquez got a bond of one million dollars which was secured by real estate and the signatures of his family members. He was given liquidated damages and ordered to observe house arrest in Pennsylvania, where he is watched by GPS and is not allowed to engage in cryptocurrency transactions without the government’s permission.
<h2 id="samourai-wallet-co-founder-s-defense">Samourai Wallet Co-Founder’s Defense</h2>
Rodriguez’s legal team, represented by lawyers from Kobre Kim, an international law firm, sought his bail, with his non-flight risk status and readiness to respect court orders being emphasized. The legal process will, however, proceed with another hearing scheduled on May 14 where more case particulars will be discussed.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 OK – now back in SDNY Magistrates court – crypto defendant Keonne Rodriguez of Samourai Wallet has been released on bond to PA – but another defendant is shouting and banging in the holding cell. As only media here Inner City Press will live tweet, thread below <a href="https://t.co/Q3PxfjLhjp" rel="noopener noreferrer nofollow">pic.twitter.com/Q3PxfjLhjp</a>
 — Inner City Press (@innercitypress) <a href="https://twitter.com/innercitypress/status/1785036108411121922?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 29, 2024</a>
</blockquote>
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In the defense’s view, Rodriguez is depicted as a cryptocurrency innovator regarding privacy features that are not necessarily illegal. His legal representatives will probably contend that the services provided by Samourai Wallet present legitimate privacy protections for lawful users, which are very important at a time when digital privacy is growing in value.
Many cryptocurrency community members have turned their attention to this case, which has become part of the growing discussion on the trade-off between privacy and the need for regulation. Moreover, Rodriguez’s arrest and that of his co-founder William Lonergan Hill have created worry among privacy advocates that legal actions might inhibit technological developments in cryptocurrency privacy.
This case has implications for similar technologies and their creators, including the <a href="https://coingape.com/coinbase-clo-backs-tornado-cash-over-right-to-privacy/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">Tornado Cash</a> platform whose developer is also charged with money laundering.
Read Also: <a href="https://coingape.com/yuga-labs-and-moonbirds-introduce-enhanced-nft-holder-rights/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">Yuga Labs and Moonbirds Introduce Enhanced NFT Holder Rights</a>
The post <a href="https://coingape.com/samourai-wallet-co-founder-denies-money-laundering-charges/" rel="noopener noreferrer nofollow">Samourai Wallet Co-Founder Denies Money Laundering Charges</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Samourai Wallet Co-Founder Denies Money Laundering Charges

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