Both co-founders of Samourai Wallet face up to 5 years in prison

BlockBeats News, July 31st, according to Decrypt's report, cryptocurrency mixing service Samourai Wallet's two co-founders, Keonne Rodriguez and William Lonergan Hill, admitted on Wednesday to conspiring to operate an unlicensed money transmitting business and are facing up to 5 years in prison.

As part of a plea agreement, the U.S. Department of Justice agreed to dismiss more serious money laundering charges—according to the DOJ's sentencing guidelines, these charges could carry a maximum sentence of 20 years in prison. The charge of operating an illegal money transmitting business carries a maximum sentence of 5 years in prison.

Both individuals initially pleaded not guilty to the charges, but court documents show they have since changed their plea to guilty.