Samourai Wallet Co-Founder Joshua Lindner Released on Bail

IconCryptoNewsTerminal Staff06 Jul, 2024

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Samourai Wallet Co-Founder Joshua Lindner Released on Bail

Samourai Wallet co-founder Joshua Lindner was released on bail on Wednesday, October 12, 2023, after spending over a month in jail. Lindner was arrested on September 6, 2023, on charges of conspiring to launder money and operating an unlicensed money transmitting business. He was denied bail at his initial hearing, but a federal judge granted him bail on Wednesday. Lindner's arrest was part of a larger crackdown on cryptocurrency companies by the U.S. government. In recent months, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have brought enforcement actions against several cryptocurrency exchanges and lending platforms. The government is concerned that these companies are being used to launder money and facilitate other illegal activities. Lindner's release on bail is a small victory for the cryptocurrency community. It shows that the government is not intent on jailing all cryptocurrency entrepreneurs. However, Lindner's case is still ongoing, and he could face significant prison time if he is convicted.

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