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⚖️ Roman Storm Found Guilty of Operating Unlicensed Money Transmitter
Roman Storm, co-founder of Tornado Cash, has been found guilty of operating an unlicensed money-transmitting business, a violation under 18 U.S.C. § 1960. The conviction follows accusations that Tornado Cash was used by bad actors — including North Korea's Lazarus Group — to launder over $1 billion in crypto.
🧾 Key Verdict Details:
Guilty: Operating an unlicensed money transmitter.
Hung jury: Charges related to money laundering and sanctions violations resulted in no verdict — the case on these charges is adjourned.
Sentence pending: Storm faces up to 5 years in prison, though that could rise to 45 years if convicted on all charges in the future.
🚫 Judge’s Ruling:
Judge Katherine Polk Failla denied a prosecution request to take Storm into custody, allowing him to remain free on bail pending appeals and sentencing.
📣 Storm’s Response:
Storm called the partial verdict a "big win", vowing to continue the legal fight:
“You know how President Trump said ‘fight, fight, fight’? We’ll do that too.”
🧠 Crypto Industry Reactions
Industry leaders and advocacy groups are voicing strong concern over the implications of this case:
DeFi Education Fund:
“The government's case targeting a software developer should have never been brought... and remains fundamentally flawed.”
Ryan Sean Adams (Bankless):
“All DeFi and privacy developers are still at risk… this precedent increases that risk.”
The Blockchain Association:
“This verdict threatens open-source development and misapplies money transmitter laws.”
🔍 Why It Matters
This case marks a pivotal moment for DeFi regulation, particularly regarding the legal responsibility of open-source developers. The guilty verdict under USC § 1960 could set precedent that exposes software developers to criminal liability for how their code is used — even if they are not directly involved in its application.
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