Tornado Cash Saga Ends: Roman Storm Convicted in Landmark Crypto Trial
The Tornado Cash trial has concluded with co-founder Roman Storm found guilty of conspiracy to operate an unlicensed money transmitting business. This verdict carries significant implications for crypto developers and privacy software, despite defense arguments and a rejected motion for remand. U.S. Attorney Jay Clayton issued a statement on the outcome, while neglecting recent DOJ guidance.
The Tornado Cash trial, a case with high-stakes implications for developers of noncustodial Bitcoin and crypto technology, as well as privacy-preserving software, has concluded with a significant verdict. Amanda Tuminelli, executive director and chief legal officer for the DeFi Education Fund, highlighted the charges against Tornado Cash co-founder Roman Storm, particularly focusing on the conspiracy to operate an unlicensed money transmitting business. Tuminelli, an expert on 18 U.S. Code § 1960, the federal law prohibiting the operation of an unlicensed money transmitting business, argued that Storm had not violated this statute in creating and operating Tornado Cash, an Ethereum-based crypto mixing service.
Discussions around the trial also involved the CLARITY Act and the Blockchain Regulatory Certainty Act (BRCA), both of which include language protecting developers of