Former United States Securities and Exchange Commission (SEC) Chair and acting U.S. Attorney for the Southern District of New York, Jay Clayton, issued a statement following the conviction of Tornado Cash developer Roman Storm on Tuesday. Jay Clayton Speaks Out On Tornado Cash Verdict In the August 6 statement, Clayton vowed that SDNY is “committed to holding accountable” people who “exploit emerging technologies to commit crime.” Founder of Tornado Cash convicted. “The speed, efficiency, and functionality of stablecoins and other digital assets offer great promise, but that promise cannot be an excuse for criminality,” said USA Jay Clayton. https://t.co/NbA3B7SVDI — US Attorney SDNY (@SDNYnews) August 6, 2025 “Roman Storm and Tornado Cash provided a service for North Korean hackers and other criminals to move and hide more than $1 billion of dirty money,” said U.S. Attorney Jay Clayton. “The speed, efficiency, and functionality of stablecoins and other digital assets offer great promise, but that promise cannot be an excuse for criminality,” he added. “Criminals who use new technology to commit age-old crimes, including hiding dirty money, undermine the public trust, and unfairly cast a shadow on the many innovators who operate lawfully.” Roman Storm’s Sentencing Date Has Yet To Be Set Clayton’s statement comes shortly after Storm was convicted on one count of operating an unlicensed money transmitting business. However, the jury was unable to reach a consensus on the charge of conspiracy to commit money laundering and sanctions violations, resulting in a partial mistrial. Storm is currently facing five years in federal prison for the money transmitting charge, though his sentencing date has yet to be set. Storm and his fellow Tornado Cash co-founder, Roman Semenov, were indicted in August 2023 on criminal charges tied to the crypto mixer, sparking debate over whether the technology was simply a privacy tool or something more nefarious. Storm rallied support from crypto privacy advocates in the lead-up to his trial, calling his legal battle one of “fairness, open-source, and freedom.” According to the Free Roman Storm website , contributions to Storm’s defense have exceeded $4.7 million, nearly reaching his $5 million goal.Former United States Securities and Exchange Commission (SEC) Chair and acting U.S. Attorney for the Southern District of New York, Jay Clayton, issued a statement following the conviction of Tornado Cash developer Roman Storm on Tuesday. Jay Clayton Speaks Out On Tornado Cash Verdict In the August 6 statement, Clayton vowed that SDNY is “committed to holding accountable” people who “exploit emerging technologies to commit crime.” Founder of Tornado Cash convicted. “The speed, efficiency, and functionality of stablecoins and other digital assets offer great promise, but that promise cannot be an excuse for criminality,” said USA Jay Clayton. https://t.co/NbA3B7SVDI — US Attorney SDNY (@SDNYnews) August 6, 2025 “Roman Storm and Tornado Cash provided a service for North Korean hackers and other criminals to move and hide more than $1 billion of dirty money,” said U.S. Attorney Jay Clayton. “The speed, efficiency, and functionality of stablecoins and other digital assets offer great promise, but that promise cannot be an excuse for criminality,” he added. “Criminals who use new technology to commit age-old crimes, including hiding dirty money, undermine the public trust, and unfairly cast a shadow on the many innovators who operate lawfully.” Roman Storm’s Sentencing Date Has Yet To Be Set Clayton’s statement comes shortly after Storm was convicted on one count of operating an unlicensed money transmitting business. However, the jury was unable to reach a consensus on the charge of conspiracy to commit money laundering and sanctions violations, resulting in a partial mistrial. Storm is currently facing five years in federal prison for the money transmitting charge, though his sentencing date has yet to be set. Storm and his fellow Tornado Cash co-founder, Roman Semenov, were indicted in August 2023 on criminal charges tied to the crypto mixer, sparking debate over whether the technology was simply a privacy tool or something more nefarious. Storm rallied support from crypto privacy advocates in the lead-up to his trial, calling his legal battle one of “fairness, open-source, and freedom.” According to the Free Roman Storm website , contributions to Storm’s defense have exceeded $4.7 million, nearly reaching his $5 million goal.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more