Samourai Wallet's Two Founders Plead Guilty, Face Up to 5 Years in Prison

Samourai Wallet founders William Lonergan Hill and Keonne Rodriguez pleaded guilty on Wednesday to conspiracy to operate an unlicensed money transmitting business, facing a maximum of 5 years in prison.

As part of the plea agreement, the U.S. Department of Justice dropped the more serious money laundering charges, which could have carried a maximum sentence of 20 years. Sentencing is scheduled for November 6.