Samourai Wallet Founder Keonne Rodriguez Denies Money Laundering Charges, Released on $1 Million Bail

Bittime - Keonne Rodriguez, co-founder of Samourai Wallet, pleaded not guilty Monday in a Manhattan court to two criminal charges related to creating and marketing aprivacy-focused  Bitcoin wallet app and coin mixing service.

Indictment Against Rodriguez

Rodriguez and his partner, another Samourai Wallet founder, William Lonergan Hill, were arrested last week and charged with one count each of:

• Conspiracy to Commit Money Laundering (maximum sentence 20 years in prison).
• Conspiracy to Operate a Money Transfer Business Without a License (maximum sentence 5 years in prison).

Prosecutors alleged that from 2015 until last week's seizure of Samourai Wallet's servers, the app had "facilitated more than $100 million in illegal black market money laundering transactions," totaling about $2 billion in "illegal transactions."

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Rodriguez Released on Bail

District Judge Barbara Moses decided Monday to release Rodriguez on $1 million bail. The next hearing will be held on May 14 at 2 pm in Manhattan.

Crypto Community Awaits Developments

The case has been in the spotlight in the crypto community, which often debates privacy and regulation regarding digital currencies. Proponents of Samourai Wallet argue that financial privacy technology is important, while authorities argue that the technology could be misused for criminal activity.

Trial Details and Evidence Awaited

It is hoped that the trial process against Rodriguez will provide further clarity regarding the allegations leveled against Samourai Wallet and its role in alleged money laundering activities.

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You can buy and sell crypto assets in an easy and safe way via Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn  Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements  of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.