Tornado Cash Developer Roman Storm Don Waka for Illegal Money Transfers
For one big case, Tornado Cash co-founder Roman Storm don found guilty for running illegal money transfer business. US jury clear Storm from sanctions evasion charge but dem no fit decide on money laundering case, e fit come for retrial. He fit face up to five years prison for illegal transfer, but e still dey free on bail. This judgment set one important legal precedence by categorizing non-custodial crypto services as Money Service Businesses (MSBs) under US law. Ethereum Foundation and VC firm Paradigm jointly provide $1.75 million for Storm's defense, showing the industry concern over privacy-based protocols. Market people dey wait sentencing and possible appeals wey fit affect future crypto compliance and regulation checks.
Bearish
Di guilty verdict wey dem give Tornado Cash developer don bring wahala for privacy-focused protocols side, e fit comot investor confidence and reduce trading volume for tokens wey relate for short term. History don show say legal wahala like SEC chasing Ripple (XRP) make token price drop and make people dey trade with caution. For long term, as dem go dey enforce more compliance, innovation fit slow down and e go reduce how many people go fit adopt non-custodial service, wey go keep pressure on privacy coins and DeFi assets.