Tornado Cash developer Roman Storm’s conviction misapplies money transmitter laws, crypto industry group says.
The conviction of Tornado Cash co-founder and developer Roman Storm could set a “dangerous” precedent for developers and privacy, legal observers in the crypto space say.
Storm was found guilty of operating an unlicensed money-transmitting business on Wednesday, Aug. 6. The crime carries a maximum sentence of five years. The jury could not reach a consensus on charges of conspiracy to commit money laundering and conspiracy to violate US sanctions. Federal prosecutors could still retry him on these two charges.
While Storm is yet to face sentencing, other crypto-related cases, including former FTX CEO Sam Bankman-Fried and OneCoin co-founder Karl Greenwood, were tried and found guilty in the same district and ended up serving prison time.
