INSUBCONTINENT EXCLUSIVE:
Venture capital firm Paradigm has filed an amicus brief in support of Tornado Cash co-founder Roman Storm, arguing the jury needs to be
its amicus brief, filed in a New York District court on June 13, Paradigm argues that the court must ensure the jury understands that for
Storm to be found guilty, the prosecution must prove he was knowingly operating a money-transmitting business.This includes charging fees,
knowingly transmitting funds on behalf of the public, knowingly handling the specific proceeds alleged to be criminal, and having custody or
control of the funds being transmitted or transferred.An amicus brief is filed by a party not directly involved in a court case but has an
interest in the outcome and hopes to provide the court with advice or another perspective.Venture capital firm Paradigm said in its brief
that the jury should be fully briefed on money transmitting laws
Source: ParadigmTornado Cash is a non-custodial crypto mixing protocol; the developers never hold or control the funds
Roman Semenov in August 2023, accusing them of helping launder over $1 billion in crypto through Tornado Cash.A guilty verdict could also
and software development in crypto and fintech.At the same time, they said it could have ripple effects on the broader open source, AI and
technology communities because software developers could be held liable for how their products are used.Related: Ethereum Foundation pledges
trial is expected to begin on July 14
A conspiracy to operate an unlicensed money transmitting business charge was dropped on May 15 after the Department of Justice released an
stablecoins, G7 urged to tackle Lazarus Group: Asia Express
