Overview
Today, I had the opportunity to virtually attend the final status conference hearing for the Tornado Cash case, which is set to go to trial on Monday, 7/14. The event took place in the Southern District of New York (SDNY), with Judge Katherine Polk Failla presiding over the proceedings. The key figures present included Roman Storm, co-founder of Tornado Cash, as well as representatives from the prosecution and defense teams.
Storm is facing three serious charges related to money laundering, operating an unlicensed money transmitting business, and sanctions violations. The hearing touched on several critical points, such as the location of the trial in New York, Storm’s alleged influence on a Bloomberg reporter, and the ongoing operations of Tornado Cash by its developers.
One significant aspect of the discussion was the admissibility of data extracted from Alexey Pertsev’s phone, another co-founder of Tornado Cash. Judge Failla emphasized her intention to focus on Storm’s business activities rather than the technical aspects of Tornado Cash’s software during the trial.
As we look ahead to the trial, which is scheduled to commence at 9:30 AM EST on Monday, an important milestone will be the jury selection process. Judge Failla mentioned that the trial will not be recorded for public viewing but assured that she will provide detailed coverage of the proceedings. She aims to wrap up the trial within three weeks, although she acknowledged that it might extend beyond that timeline due to unforeseen circumstances, like celebrating her mother’s birthday in early August.
Opening statements are scheduled for Tuesday, 7/15, setting the stage for what promises to be a complex legal battle. The decision to hold the trial in the SDNY was explained by the prosecution, citing specific reasons behind this choice.
In closing, the final status conference hearing shed light on the impending trial of Tornado Cash and Roman Storm. The legal intricacies and potential implications of this case will undoubtedly have ripple effects in the crypto and blockchain community, underscoring the importance of regulatory compliance and ethical practices in the industry.
