Today, a jury in Manhattan issued a partial verdict in Roman Storm’s case: they convicted him on count 2, conspiracy to violate Section 1960, and did not reach a verdict for counts 1 and 3, conspiracy to launder money and violate sanctions.  We are disappointed that the jury did not recognize that Storm should not be responsible for the actions of third parties he could not control. While it is understandable that the jury could not reach a decision on all the charges — as the government made many mistakes throughout and their case was not compelling — we hoped for a different outcome for Storm.  The government’s case targeting a software developer should have never been brought in the first place and remains fundamentally flawed: Tornado Cash is non-custodial software through which people engage in self-directed, p2p transactions.  Even the government acknowledges that Tornado Cash developers did not and could not exercise control or custody over user assets.  We will continue to support Storm as he appeals the verdict on Section 1960. At the DeFi Education Fund, we will always advocate for DeFi software developers’ fundamental rights, as we fervently believe software developers deserve the freedom to build decentralized financial tools and infrastructure, including privacy-preserving technology.

@CryptoTaxGuyETH packed this episode full of crypto tax alpha, always learn something from speaking with him

Today the SEC approved creations and redemptions in kind. For a variety of reasons this is really important. 1) It puts crypto ETPs in line with other physical metal ETPs where APs can use affiliates to deliver and receive commodities in kind.

I asked SEC Commissioner @HesterPeirce and Crypto Task Force Chief Counsel @MikeSeligEsq about decentralization and crypto. Every blockchain project should listen their answer:

Grateful that SEC Commissioner @HesterPeirce and Crypto Task Force Chief Counsel @MikeSeligEsq returned to the Law of Code podcast. Listen to their thoughts on tokenized securities, market structure, decentralization, and more👇

Wow!! This is a must-listen folks. It does not get better than this. Well done, @JacobRobinsonJD! 🔥🔥🔥

Thrilled to have SEC Commissioner @HesterPeirce and Crypto Task Force Chief Counsel @MikeSeligEsq back on the Law of Code podcast this Friday. Tokenization of securities, market structure rules — what else would you like to hear them discuss?

Hard to believe how quickly everything has changed

Jessi dishes on tools, education and experiences from her time at the DOJ, including her work on the Bitfinex case, in the full ep.

Former DOJ attorney Jessi Brooks explains why money laundering in crypto has become a race to the off-ramps: