The Department of Justice (DOJ) has hinted that Tornado Cash co-founder Roman Storm is unlikely to face a second trial on new charges.
Storm was convicted on one felony count in August, but the latest comments from Matthew Galeotti, the acting assistant attorney general in charge of the criminal division, suggested a narrower focus on intent in crypto-related prosecutions.
Speaking at a Wyoming event hosted by the American Innovation Project, Galeotti outlined how the department plans to approach enforcement in the crypto industry. He said the goal was to bring more clarity and predictability to developers and businesses.
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Although he did not mention Storm directly, Galeotti described cases that closely resemble Storm’s, including disputes over whether someone’s work amounts to operating an unlicensed money-transmission business. He said:
Innovating new ways for the economy to store and transmit value and create wealth, without ill intent, is not a crime.
Still, he explained that the DOJ will still go after people who break the law or help others commit crimes such as fraud, money laundering, or evading sanctions.
He also noted, “The department will not use federal criminal statutes to fashion a new regulatory regime over the digital asset industry. The department will not use indictments as a law-making tool. The department should not leave innovators guessing as to what could lead to criminal prosecution”.
Recently, Federal Reserve Governor Christopher Waller spoke about how banks and policymakers should approach crypto-based payments at the conference. What did he say? Read the full story.
