A defendant suspected of providing "shadow banking" services to cryptocurrency companies may plead guilty to some charges

Reginald Fowler, accused of providing "shadow banking" services for cryptocurrency startups, is expected to plead guilty to some of the charges at a court hearing next month. A letter written by Assistant U.S. Attorneys Jessica Fender and Sheb Swett on behalf of U.S. Prosecutor Geoffrey Berman said: "The defendant Fowler is expected to change his previous defense at the next court meeting." U.S. District Judge Andrew Carter weekly responsible for the Southern District of New York case. Four approved the letter, cancelled the hearing scheduled for January 8, 2020, and set the hearing to January 10, 2020. According to previous reports, Fowler was charged and arrested in May of this year. Another defendant, Yosef, has also been charged but has not been arrested. According to the indictment, the two opened bank accounts at various financial institutions to store funds on behalf of cryptocurrency exchanges, but told the banks that they would process real estate transactions.