Virgil Griffith, the former head of special projects for the Ethereum Foundation, stood before a judge in the Southern District of New York courthouse Thursday and entered a plea of not guilty.
Virgil Griffith, the former head of special projects for the Ethereum Foundation, is free on $1 million bail. He was charged with violating sanctions following a trip to North Korea in April to deliver a lecture on cryptocurrency. Prosecutors say he assisted the rogue regime in using cryptocurrency to bypass sanctions.
Former Ethereum developer Virgil Griffith has been formally indicted for conspiracy to violate North Korean sanctions after giving a cryptocurrency lecture at a North Korean conference. Prosecutors alleged that Griffith discussed how to use blockchain and cryptocurrency technology to launder money.
A federal judge set bail for Virgil Griffith at $1 million, over the vigorous protests of the Department of Justice. He is accused of assisting the pariah regime in evading U.S. sanctions using blockchain and cryptocurrency.