US revokes Ethereum dev Virgil Griffith's export permits for ten years

The Department of Commerce has given Ethereum creator Virgil Griffith, who is presently serving a five-year jail sentence, a 10-year export permission bar. Until April 12, 2032, he is unable to export due to this bar.

His capacity to participate in international commerce and business is impacted by the export privilege prohibition. Virgil Griffith was found guilty of violating the IEEPA on April 12, 2022, in the US District Court for the Southern District of New York. Griffith was found guilty of violating U.S. sanctions on North Korea and exporting services to that country without authorization.

US revokes the export permits of Ethereum developer Virgil Griffith for 10 years

The Department of Commerce has imposed a 10-year export prohibition on Ethereum founder Virgil Griffith, who is now serving a five-year prison term. He is unable to export until April 12, 2032, as a result of this ban. The export privilege ban affects his ability to engage in international trade and business.

On April 12, 2022, the US District Court for the Southern District of New York found Virgil Griffith guilty of breaking the IEEPA. Griffith was held responsible for illegally exporting services to North Korea in violation of American restrictions imposed on that nation.

In a statement, U.S. Attorney Geoffrey S. Berman charged Griffith with intentionally disclosing technical data to North Korea that might be used to launder money and evade sanctions. Griffith was found guilty and was given a 63-month jail term, followed by three years of supervised release. In addition, he must pay a $100 assessment and a $100,000 criminal fine.

Individuals found guilty of particular crimes, such as breaking the International Emergency Economic Powers Act (IEEPA), may have their export licenses revoked for up to 10 years under the rules of the Export Control Reform Act (ECRA). Any licenses or authorizations previously issued by the Bureau of Industry and Security (BIS) may be revoked as a result of this refusal.

The bar will prevent Virgil Griffith from taking part, either directly or indirectly, in any transactions involving goods, software, or technology that are subject to U.S. export laws. His export powers as a citizen of the United States are essentially denied as a result.

At the end of December 2019, he was ultimately given a bond order for $1 million after first being denied bail. Griffith submitted a request to dismiss the conspiracy allegations in October 2020, asserting that his April 2019 conference presentation contained material that was generally accessible to the public and that, as a result, he was not rendering a "service" to North Korean officials.

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