The US Department of Commerce has placed a 10-year export privilege ban on Virgil Griffith, an Ethereum developer serving a five-year prison sentence. The ban prevents you from enjoying export privileges until April 12, 2032.
The prohibition of the privilege to export it affects their ability to engage in international trade and business. On April 12, 2022, Virgil Griffith was convicted in the US District Court for the Southern District of New York for violating the International Emergency Economic Powers Act (IEEPA). Griffith was convicted of unauthorized export of services to North Korea and evading US sanctions on the country.
US Attorney Geoffrey Berman accused Griffith of knowingly sharing technical information with North Korea that could aid in money laundering and evading sanctions. according to a statement. As a result of his conviction, Griffith was sentenced to 63 months in prison, followed by three years of supervised release. He is also required to pay a $100 assessment and a $100,000 criminal fine.
Under the provisions of the Export Control Reform Act, individuals convicted of specific crimes, such as IEEPA violations, may face denial of export privileges for up to 10 years. This refusal may result in the revocation of licenses or authorizations previously granted by the Bureau of Industry and Security, an agency of the Department of Commerce.
As a result of the ban, Virgil Griffith will not be able to participate, directly or indirectly, in any transaction involving commodities, software, or technology that falls under the jurisdiction of US export regulations. This effectively denies his privileges for export as a US citizen.
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He was initially denied bail, but was eventually granted a $1 million bail order in late December 2019. In October 2020, Griffith filed a motion to dismiss the conspiracy charges, claiming that his filing in the April 2019 conference consisted of widely available public information; therefore, he was not providing a “service” to North Korean officials.
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