DeFi Education Fund
@fund-defi
Notable update in the Samourai Wallet Case: Today, devs’ lawyers revealed that despite being *explicitly* told by FinCEN that non-custodial software such as Samourai Wallet is most likely not a money transmitter, DOJ prosecuted the devs anyway…
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DeFi Education Fund
@fund-defi
2/ The letter makes clear that on August 23, 2023 - 6 months before the indictment - prosecutors knew FinCEN’s view: “under FinCEN’s guidance, the fact that Samourai Wallet did not take custody of cryptocurrency would “strongly suggest” that they were not a money transmitter.”
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DeFi Education Fund
@fund-defi
3/ For an analysis of the charges in this case related to money transmission, check out DEF’s recent paper on the matter: https://www.defieducationfund.org/post/def-authors-new-paper-exploring-samourai-wallet-money-transmitters
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