Crypto Co-Founder Roman Storm’s Lawyers Seek Dismissal of Charges

2 Min Read
    • The lawyers of Tornado Cash co-founder have filed a motion to dismiss the charges of money laundering and concealing criminal financial flows.
    • Roman Storm’s lawyers have provided legal grounds in favor of their request.
    • The entrepreneur has been charged with several counts, each carrying a prison term of 5 to 20 years.

Roman Storm, the co-founder of Tornado Cash, has had his lawyers file a court motion to dismiss all charges against him. In the document, the lawyers provide grounds in favor of such a decision.

According to them, Storm could not have conspired with criminals since he gave up control of the service long before any illegal activities took place. They also believe that Tornado Cash cannot be considered a money transfer business as the project never charged for its services.

Furthermore, the lawyers assert that writing code falls under the protection of the First Amendment to the US Constitution, which guarantees freedom of speech. They argue this extends to the writing of software.

Storm’s defense is confident that all charges leveled against the developer are “fatally flawed”.

“At their core, these claims represent an unprecedented attempt to criminalize software development, which Storm and his colleagues had the right to write under the First Amendment,” the motion states.

The US authorities imposed a ban on the use of the Tornado Cash mixer in August 2022. Shortly after, the project’s founder Alexey Pertsev was detained in Amsterdam. He was charged with concealing criminal financial flows and money laundering.

A year later, the US government lodged claims against Roman Storm and his colleague Roman Semenov. They are suspected of laundering over $1 billion. The developers were also accused of conspiring to violate the “International Emergency Economic Powers Act” and running an illegal money transfer business.

Bitcoin Hits $79,500 Target as Ethereum Faces Pressure Before Fed Meeting

An unnamed trader said a Bitcoin short reached its final $79,500 target, while an October close below $80,000 could open a decline toward $72,500 and $70,000.

6 Min Read
Bank of Israel Criticizes Netanyahu’s Plan to Bypass Sanctions With Cryptocurrencies

Israel’s central bank and opposition politicians criticized Prime Minister Benjamin Netanyahu’s proposal to develop an alternative economic system, potentially using cryptocurrencies, to avoid possible banking sanctions.

3 Min Read
Hong Kong Approves 24/7 Trading of Tokenized Investment Funds

Hong Kong’s SFC approved the world’s first secondary trading of tokenized public investment funds on a licensed virtual asset platform, where PantherTrade began trading two ChinaAMC funds on October 15,…

3 Min Read
BNB Chain Plans New Layer 1 Network Launch in Early 2027

BNB Chain plans a separate high-performance Layer 1 network complementing BNB Smart Chain, using BNB for fees, staking and governance, with a public testnet targeted by end-2026 and mainnet in…

3 Min Read
GMO Internet Hackers Gain Access to Clients’ Trading Accounts

Investigating from October 19, GMO Internet confirmed unauthorized Onamae.com Desktop Cloud access potentially affecting 26,739 servers, possible MetaTrader credential theft and reported unauthorized trades, pledging confirmed-loss reimbursements and 5,000-yen active-user…

4 Min Read