#Tornado #Cash Co-Founder Convicted for Unlicensed Money Transmitting—Jury Deadlocks on Laundering Charges

A Manhattan federal jury has reached a partial verdict in one of the most closely watched crypto-related trials in recent memory. Roman Storm, co-founder of the controversial cryptocurrency mixing service Tornado Cash, has been found guilty of operating an unlicensed money transmitting business. However, the jury deadlocked on more serious charges related to money laundering and violating international sanctions, leaving the door open for a possible retrial.

Key Takeaways:

Roman Storm convicted of unlicensed money transmission.

Jury could not reach a verdict on money laundering and sanctions charges.

Possible retrial pending DOJ decision.

Tornado Cash allegedly laundered over $1 billion.

Storm faces up to five years in prison.

Guilty Verdict and Jury Deadlock

The trial, which took place in the U.S. District Court for the Southern District of New York, culminated in a split decision on August 6. After days of intense deliberations, the jury only found consensus on one of the three charges brought against Storm: operating an unlicensed money transmitting service—a federal offense under U.S. law.

Judge Katherine Polk Failla, presiding over the case, acknowledged the complexity of the proceedings, calling it a “hard-fought case.” The jury could not reach a unanimous verdict on the charges of money laundering and conspiracy to violate sanctions, resulting in a mistrial on those counts.

Storm now awaits sentencing on the unlicensed transmission charge, which carries a maximum sentence of five years in federal prison.