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Cryptocurrency expert charged with US N Korea sanctions violations

03/12/2019

The US Department of Justice (DOJ) has announced that Virgil Griffith, a US citizen, has been charged with conspiracy to violate the International Economic Emergency Powers Act (IEEPA) by travelling to North Korea to deliver a presentation on cryptocurrency at a conference. He was denied permission from the US State Department to do so. The criminal complaint says Mr Griffith participated in discussions about using cryptocurrency and blockchain to evade sanctions, and therefore provided technical information to N Korea, the export of which is prohibited under the IEEPA and E.O. 13466. If convicted, the offence carries a maximum sentence of 20 years’ imprisonment.

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