The Coin Rise 2025-05-06 08:45:45

Samourai Wallet Lawyers Allege Prosecutors Hid Crucial FinCEN Guidance

Lawyers representing Samourai Wallet’s co-founders have accused federal prosecutors of withholding key information from the court. The defense claims that U.S. prosecutors knew months in advance that Samourai Wallet did not legally require a license from the Financial Crimes Enforcement Network (FinCEN), but proceeded with criminal charges anyway. FinCEN Guidance According to a May 5 letter filed in Manhattan federal court, attorneys for Keonne Rodriguez and William Hill assert that FinCEN officials told prosecutors in a 2023 phone call that Samourai Wallet likely wouldn’t be classified as a “Money Services Business” (MSB). If true, that would mean the company was not obligated to obtain a license under federal guidelines. Yet, six months later, Rodriguez and Hill were indicted for operating an unlicensed money transmitting business and conspiracy to launder money. The charges—made public in April 2024—allege that Samourai enabled over $2 billion in concealed transactions, including $100 million tied to illicit activity on darknet markets. The crux of the defense’s argument lies in timing. Prosecutors, the letter says, were legally required to disclose their FinCEN correspondence by May 8, 2024. However, this information was only made available to the defense in April 2025, nearly a full year later. This delay, lawyers claim, robbed Rodriguez and Hill of a fair chance to contest the charges earlier. Defense Demands Answers Over Late Disclosure Crucially, a prosecutor’s internal email summarizing the 2023 FinCEN call reportedly states that since Samourai never held custody of user funds—lacking access to private keys—it would not meet the threshold to be regulated as an MSB. Even FinCEN staff acknowledged that the government’s argument of “functional control” was speculative at best and untested under existing guidance. Citing this new evidence, the defense has requested a formal hearing to examine the government’s actions and is preparing to renew its motion to dismiss the case. They argue that if Samourai was never a money transmitter by definition, then the charges for lacking a license should never have existed. Both sides have asked for additional time to weigh next steps, especially as the Justice Department recently signaled a shift away from aggressively targeting crypto mixers for regulatory violations. The post Samourai Wallet Lawyers Allege Prosecutors Hid Crucial FinCEN Guidance appeared first on TheCoinrise.com .

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