The trial against Roman Storm, co-founder of Tornado Cash, is set to begin in New York, facing charges of money laundering and violating US sanctions. Jay Clayton, former SEC chair, is leading the prosecution.
Charges Against Roman Storm
Roman Storm will be tried for criminal conspiracy to commit money laundering and evading sanctions. The trial is scheduled to begin on Monday in lower Manhattan.
Jay Clayton's Role in the Trial
Jay Clayton, who previously chaired the SEC, will lead the prosecutorial side in court. He oversaw several significant cases against crypto firms, including the lawsuit against Ripple.
Impact on the DeFi Industry
Industry representatives express concern that a successful prosecution of Storm could set a harmful precedent for software developers in the DeFi space. During the proceedings, Storm stated, 'If I lose, DeFi dies with me.'
The commencement of the trial against Roman Storm under Jay Clayton's leadership may have significant implications for the crypto industry and the future of DeFi in the US.
