Samourai Wallet’s legal team has accused federal prosecutors of suppressing vital advice from FinCEN regarding the necessity of a license for their crypto mixing service. Despite FinCEN informing prosecutors that the wallet app did not need a license, charges were still filed against the founders.
Allegations Against Prosecutors
According to reports, attorneys for Samourai Wallet’s co-founders, Keonne Rodriguez and William Hill, disclosed that FinCEN had advised prosecutors that the wallet app did not meet the criteria of a ‘Money Services Business’ that required a license. However, the founders were charged with running an unlicensed money transmitting business and conspiracy to launder money.
Legal Battle Unfolds
The legal battle intensified as Rodriguez and Hill were arrested in April 2024, following the charges filed in February of the same year. The revelation of withheld guidance raises questions about the prosecutors’ actions and the handling of the case against Samourai Wallet.
Implications and Future Steps
The accusations of suppression of FinCEN guidance have brought the legality of the charges into question. The unfolding legal proceedings will shed light on the integrity of the case and the implications for the cryptocurrency industry.
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