Tornado Cash co-founder Roman Storm has been found guilty on charges of operating an unlicensed money-transmitting business. The conviction carries a maximum potential sentence of five years in prison.
Following the verdict, prosecutors requested the immediate revocation of Storm’s bail. The presiding judge declined this request, determining that Storm presented a low flight risk.
The jury was unable to reach a unanimous decision on charges specifically related to money laundering and violations of US sanctions laws. This deadlock leaves open the possibility of a retrial on those specific counts.
The case has ignited widespread debate within the cryptocurrency sector. Legal experts and industry advocates are raising significant concerns about the implications for individual privacy rights and the complexities of regulating decentralized financial tools where developers relinquish control.
Storm’s prosecution continues to highlight the contention between advancing cryptocurrency innovation and establishing comprehensive government oversight frameworks.