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The Tornado Cash Trial’s Mixed Verdict: Implications for Developer Liability

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On August 6, 2025, following a four-week trial, a jury in the Southern District of New York delivered a mixed verdict in the criminal case against Tornado Cash co-founder Roman Storm. The jury convicted Storm of conspiring to operate an unlicensed money transmitting operation, but were deadlocked on the two more serious charges—conspiracy to commit money laundering and conspiracy to commit sanctions violations….
By: Mayer Brown
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