Hints from the Justice Department (DOJ) suggest that Roman Storm, a co-creator of Tornado Cash, likely won’t face a second trial involving new charges.
While Storm was found guilty on one felony charge back in August, recent comments from Matthew Galeotti, currently serving as the acting assistant attorney general overseeing the criminal division, indicate a potential shift toward a more precise focus on intent when dealing with crypto-related legal cases.
During an address at an event in Wyoming organized by the American Innovation Project, Galeotti explained the department’s planned strategies for crypto industry enforcement. He articulated that the primary objective is to deliver enhanced clarity and predictability for both developers and businesses in the sector.
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Even though he didn’t explicitly mention Storm’s name, Galeotti referenced scenarios with significant similarities to Storm’s situation, specifically in regards to disputes about whether certain work constitutes operating an unlicensed money transmitting operation. His exact words were:
Developing innovative methods for the economy to manage and transmit value, and to generate wealth, when there is no harmful intent, is not a criminal act.
He did, however, clarify that the DOJ remains committed to pursuing individuals who violate the law or facilitate criminal activities, including instances of fraud, money laundering, or violations of sanctions.
Furthermore, he stated, “The department will not utilize federal criminal statutes as a basis for constructing a novel regulatory system for the digital asset sector. We will not employ indictments as instruments for creating law. The department should not leave innovators in a state of uncertainty about what actions might trigger criminal prosecution.”
In related news, Federal Reserve Governor Christopher Waller recently shared his thoughts on how banks and regulators should consider crypto-based payment systems. Interested in learning more about what he had to say? Access the complete article here.