{
}
As 2025 begins, several high-profile cryptocurrency criminals are spending their first New Year in prison. Sam Bankman-Fried, former CEO of FTX, was sentenced to 25 years, while Tornado Cash co-founder Alexey Pertsev received over five years for money laundering. Other notable figures include IcomTech founder David Carmona, sentenced to 10 years, and Bitfinex money launderers Ilya Lichtenstein and Heather Morgan, with Morgan set to report to prison later this month.
Roman Storm, co-founder of Tornado Cash, has requested a federal judge to dismiss his criminal charges following a Fifth Circuit Appeals Court ruling that deemed sanctions against the platform's smart contracts unlawful. Storm argues that the court's opinion undermines the charges of conspiring to violate the International Emergency Economic Powers Act, asserting that the smart contracts are not property of any foreign entity and cannot be sanctioned. He also contends that Tornado Cash is not a financial institution, further challenging the charges of operating an unlicensed money-transmitting business and money laundering conspiracy.
The Stanford Blockchain Club has criticized the DOJ's prosecution of Tornado Cash developers, arguing that the use of outdated federal money transmission laws is an overreach. Their report contends that the statute fails to address the complexities of decentralized protocols and warns against executive overreach that could stifle innovation. The case underscores the ongoing debate over financial privacy and the potential misuse of emerging technologies.
In late November 2024, a US court lifted OFAC sanctions against Tornado Cash, a decentralized mixer protocol, while co-founder Roman Storm faces serious criminal charges, including money laundering. The court ruled that immutable smart contracts are not classified as "property," challenging regulatory frameworks and highlighting the need for updated approaches to blockchain technology. Despite ongoing legal issues, Tornado Cash continues to gain traction in the decentralized finance space.
Roman Semenov
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
crypto criminals face new year in prison as cases conclude
United States Dollar
Alameda Research LLC
NLD
BHS
USA
KWT
David Brend
Ross William Ulbricht
Gustavo Rodríguez
Ilya Lichtenstein
Heather Morgan
Roman Storm
Roman Semenov
Alexey Pertsev
Sam Bankman-Fried
David Carmona
Caroline Ellison
Show more
17:00 02.01.2025
tornado cash co-founder seeks dismissal of charges after court ruling
United States Dollar
Euro
Tornado Cash USD
Coinbase Global, Inc.
PRK
USA
NLD
Roman Storm
Roman Semenov
Alexey Pertsev
Show more
03:49 20.12.2024
stanford blockchain club criticizes doj for outdated laws in tornado cash case
23:08 16.12.2024
us court lifts sanctions on tornado cash amid ongoing legal challenges
09:41 13.12.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Finance Mergers & Acquisitions
Global Trade Developments
Global Financial Events
Hedge Funds & Private Equity
Banking Regulations
Market Analysis and Predictions
Government Policies
Retail and Consumer Goods
Startups & Entrepreneurship
CEO Changes
Industry Mergers & Acquisitions
Financial Scams and Security
Government Economic Policies
Economic Sanctions
Inflation and Monetary Impact
Central Bank Actions
GDP Growth & Recession Forecasts
Countries:
Companies:
JPMorgan Chase & Co.
Barclays PLC
Apple Inc.
Tesla, Inc.
The Goldman Sachs Group, Inc.
Wells Fargo & Company
Bank of America Corporation
Berkshire Hathaway Inc.
Morgan Stanley
Banco Santander, S.A.
Citigroup Inc.
SpaceXCoin USD
Microsoft Corporation
Commerzbank AG
Amazon.com, Inc.
Deutsche Bank Money Market PP
UBS Group AG
Lloyds Banking Group plc
NVIDIA Corporation
AMERICAN EXPRESS
Currencies:
United States Dollar
Euro
British Pound Sterling
Swiss Franc
Indian Rupee
Japanese Yen
Chinese Yuan
South Korean Won
Canadian Dollar
United Arab Emirates Dirham
New Taiwan Dollar
Vietnamese Đồng
Danish Krone
Indonesian Rupiah
Russian Ruble
Singapore Dollar
Chilean Peso
Egyptian Pound
Cambodian Riel
Israeli New Shekel
People: