Roman Storm, co-founder of Tornado Cash, was found guilty of conspiracy to run an unlicensed money business, with a potential retrial on other charges.
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Storm’s legal team and US prosecutors have agreed to extend procedural deadlines for a possible retrial.
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The jury found Storm guilty on one count, while remaining charges are still undecided.
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Storm’s sentencing is expected soon, but no date has been set yet.
Roman Storm, co-founder of Tornado Cash, faces a potential retrial after being found guilty of conspiracy to run an unlicensed money business. Stay updated on this developing story.
What is the Current Status of Roman Storm’s Case?
Roman Storm was found guilty of conspiracy to run an unlicensed money business related to Tornado Cash. This verdict came after a jury deliberated on three felony charges, ultimately unable to reach a decision on the remaining two. The primary keyword here is “Tornado Cash,” which highlights the ongoing legal issues surrounding cryptocurrency operations.
How Will the Retrial Process Work?
The US District Court for the Southern District of New York has approved a schedule that could delay any potential retrial until late 2025. Judge Katherine Failla emphasized that allowing the defense time to prepare outweighs the public’s interest in a speedy resolution. This decision reflects the complexities involved in cryptocurrency-related legal proceedings.
Frequently Asked Questions
What are the implications of the Tornado Cash verdict?
The verdict against Roman Storm could set a precedent for how cryptocurrency operations are regulated in the US, impacting future cases significantly.
When will Roman Storm be sentenced?
While Roman Storm is expected to be sentenced soon, no specific date has been announced yet, leaving the timeline uncertain.
Key Takeaways
- Legal Proceedings: Roman Storm’s case highlights ongoing scrutiny of cryptocurrency developers.
- Future Implications: The outcome could influence future regulations surrounding decentralized finance.
- Public Interest: The case has drawn significant attention, emphasizing the need for clarity in cryptocurrency laws.
Conclusion
In summary, Roman Storm’s guilty verdict on conspiracy charges marks a significant moment in the cryptocurrency landscape. As the legal proceedings continue, the implications for Tornado Cash and similar platforms remain to be seen. The evolving nature of cryptocurrency regulation necessitates close attention from both the public and industry stakeholders.
After a New York jury found the Tornado Cash co-founder guilty of one of three charges he had been facing, US authorities still have the option of filing for a retrial.
Roman Storm’s legal team and US prosecutors have agreed to extend procedural deadlines that could affect retrying the Tornado Cash co-founder on conspiracy to commit money laundering and conspiracy to violate sanctions.
In a Monday filing in the US District Court for the Southern District of New York (SDNY), Judge Katherine Failla approved a schedule agreed upon by Storm’s lawyers and the US government that will push the start of any potential retrial.
Though prosecutors did not suggest whether they intended to retry Storm on the two felony charges, any scheduling on the matter would likely be pushed to later in 2025 beyond the 70-day deadline following “the conclusion of the initial trial.”
“The Court finds that the ends of justice would be served by excluding time from now until December 18, 2025, and that allowing the defense time to consider and prepare post-trial motions would outweigh the interests of the public and the defendant in a speedy retrial,” said Failla.
On Aug. 6, a jury found Storm guilty of one count of conspiracy to run an unlicensed money business related to his role at Tornado Cash — one of the three felony charges he had been facing in court. The jury was unable to reach a decision on the remaining charges after days of deliberation.
Storm is expected to be sentenced on the single count soon, but no hearing has been scheduled as of Tuesday.
Related: The jury’s journey to the Roman Storm verdict
Tornado Cash developers are still under scrutiny
Storm was indicted in the US in August 2023 for money laundering, conspiracy to operate an unlicensed money transmitter and conspiracy to violate US sanctions. He pleaded not guilty and has been free on bail since his arraignment.
The other two Tornado Cash co-founders, Alexey Pertsey and Roman Semenov, are in legal jeopardy similar to Storm.
Semenov was indicted in SDNY along with Storm, but remained at large at the time of publication. Pertsev was found guilty of money laundering in the Netherlands in 2024 and sentenced to more than five years in prison. He is appealing the decision.
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