Keonne Rodriguez, co-founder of the Samourai Wallet, a non-custodial Bitcoin (CRYPTO:BTC) service, pleaded not guilty on Monday, April 29, to charges of operating an unlicensed money transmitting business and money laundering.
Following his court appearance, Rodriguez was granted release after posting a $1 million bail.
As a condition of his release, he will be under house arrest at his residence located in Harmony, Pennsylvania, where his movements will be closely monitored to ensure compliance with the court’s conditions.
This legal development places a spotlight on the regulatory scrutiny surrounding cryptocurrency operations and the ongoing debates over the definitions and boundaries of legal financial activities within the crypto space.