Venture capital firm Paradigm has filed an amicus brief in support of Roman Storm, co-founder of Tornado Cash, highlighting the need for the jury to fully understand the law.
Paradigm's Position in Roman Storm's Case
In its amicus brief, filed in a New York District court on June 13, Paradigm argues that the court must ensure the jury understands that for Storm to be found guilty, the prosecution must prove he was knowingly operating a money-transmitting business.
Clarification of the Law
Katie Biber, Paradigm's chief legal officer, and Gina Moon, the firm's general counsel, stated that the prosecution's arguments contradict the plain text of the law and decades of case law. They noted that in 2014, the US Treasury Department defined that software development did not constitute acceptance and transmission of value.
Potential Implications for Innovation
Biber and Moon emphasized that the stakes of this matter are high. If Storm is found guilty, it could hinder innovation in the crypto and fintech sectors. Additionally, it could have negative implications for software developers who might be held liable for how their products are used.
The trial against Roman Storm is set to begin on July 14, and it carries significant implications not only for Tornado Cash but for the entire software and technology industries.
