Ethereum Foundation Backs Tornado Cash Developer with $500K Legal Defense Fund
Main Idea
The Ethereum Foundation has pledged $500,000 to support Tornado Cash developer Roman Storm's legal defense after his conviction for unlicensed money transmission, sparking debate over the criminalization of open-source development.
Key Points
1. The Ethereum Foundation announced a $500,000 donation to fund Roman Storm's legal defense, emphasizing that 'privacy is normal, and writing code is not a crime.'
2. Roman Storm was convicted under 18 U.S. Code Section 1960 for operating an unlicensed money transmitting business, facing up to 5 years in prison.
3. The crypto community, including lawyer Jake Chervinsky, criticized the verdict, arguing that Section 1960 should not apply to non-custodial protocol developers.
4. Tornado Cash was sanctioned by the U.S. Treasury in 2022 for allegedly laundering $7 billion, including funds linked to North Korea's Lazarus Group.
5. The case has raised concerns about the precedent it sets for open-source development and DeFi, with calls for an appeal.
Description
The Ethereum Foundation has once again thrown its support behind Tornado Cash developer Roman Storm, pledging $500,000 in donations to fund the privacy-protocol developer’s legal defense. This announcement comes just days after the Tornado Cash co-founder was convicted on one of three federal charges that legal experts warn could set a dangerous precedent for criminalizing open-source development. Privacy is normal, and writing code is not a crime. https://t.co/BD55K5GDW3 — Ethereum (@ethereum) ...
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