Connect with us

Hi, what are you looking for?

Daily Market SolutionDaily Market Solution

Investing

Samourai Wallet Developer Sentenced to 5 Years and Fined $250k; Can He Appeal After Clarity Act?

The post Samourai Wallet Developer Sentenced to 5 Years and Fined $250k; Can He Appeal After Clarity Act? appeared first on Coinpedia Fintech News

Keonne Rodriguez, a 37-year-old developer of the Samourai Wallet, has been sentenced to five years in prison. Rodriguez was also fined $250,000 and is expected to forfeit $237 million tied to illegal activities as part of the plea deal.

Notably, he pleaded guilty in July 2025 to a conspiracy count for operating an unlicensed money-transmitting business through the Samourai Wallet. The prosecutor, however, dropped the money laundering charges as part of the plea deal. 

Furthermore, the Samourai Wallet allowed users to obscure Bitcoin transactions through mixing in a similar scheme to Tornado Cash. The judge also imposed a 3-year supervised release for the Samourai Wallet co-founder after serving his time.

What Next for the Samourai Wallet Co-founder after the Clarity Act

Rodriguez’s case was complicated after he pleaded guilty earlier this year. With the sentence issued by the Judge, a potential legislative relief may be void in a potential appeal case.

Notably, the Clarity Act, which seeks to give the wider crypto market clarity, has a clause that guides open-source web3 development. If the Clarity Act is passed with its current provisions, web3 developers cannot be held liable solely for publishing open-source code, running blockchain nodes, and providing self-custodial software.

However, the ongoing U.S. government shutdown has pushed further the timelines for the Clarity Act. As such, Rodriguez may not be eligible for legislative relief, especially since his charge dated back in 2015 violated existing laws.

Nevertheless, Rodriguez could seek an appeal to push for a sentence reduction, which is independent of legislative relief. Moreover, his lawyers suggested a sentence of 1 year and 1 day in prison.







    You May Also Like

    Investing

    By Anushree Mukherjee and Brijesh Patel (Reuters) -Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from...

    Editor's Pick

    Extremist supporters of former president Donald Trump are lashing out online against Usha Vance, the wife of Trump’s running mate, Sen. J.D. Vance (R-Ohio),...

    Investing

    Australia is home to a thriving tech sector with investment opportunities across a variety of subsectors. The tech sector contributed about AU$167 billion to...

    Editor's Pick

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Disclaimer: Dailymarketsolution.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 dailymarketsolution.com