CandleFocus Tornado Cash ruling lays dangerous precedent: crypto lawyers
2024-09-27
Author: Content Editor
District Judge Katherine Polk Failla ruled against Tornado Cash and its co-founder Roman Storm, allowing for a trial to proceed. The judge rejected arguments that the code operated differently from traditional money-transmitting businesses and stated that code is not protected as speech under the First Amendment. The crypto community expressed concerns about the impact on open-source development and developer freedom. This case could set a precedent for other code-based sectors. Tornado Cash and Storm were indicted on conspiracy and illegal money-transmitting charges, with authorities accusing them of facilitating over $1 billion in illicit funds. The trial is set to begin on December 2nd.
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