Organizations Appeal to President Trump
Over 65 organizations representing various cryptocurrency and blockchain interests have formally appealed to President Donald Trump, recognizing a potential retrial for Roman Storm, the co-founder of Tornado Cash. A letter, which was made public on Thursday and directed to the President, included signatures from advocacy groups such as the Solana Policy Institute, Blockchain Association, and the DeFi Education Fund.
Key Issues Addressed in the Letter
In their communication, these groups sought Trump’s involvement in addressing several key issues concerning cryptocurrency regulations. They urged the President to:
- Instruct the IRS and the US Treasury to provide more clarity on tax regulations regarding digital currencies.
- Safeguard decentralized finance (DeFi) from excessive regulatory scrutiny.
- Promote consistency in financial oversight through agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Particularly significant was their appeal for Trump to recommend that the Department of Justice (DOJ) dismiss the remaining charges against Storm and reconsider his previous conviction linked to operating an unlicensed money transmitting service.
Arguments for Dismissal of Charges
The letter emphasized that Storm’s contributions to Tornado Cash should be viewed as the development of open-source software rather than criminal activity. Advocates argue that dismissing the case would not only protect developers but also reinforce the notion that coding constitutes free speech under the First Amendment, thus bolstering innovation within the US.
Background on Roman Storm’s Conviction
Roman Storm was convicted in a federal court earlier for managing an unlicensed money transmission business, one charge among three he faced. While the jury did not reach a verdict concerning whether Storm was involved in conspiracy to commit money laundering or violate sanctions, he has consistently maintained his innocence. Following his August 2023 indictment, he asserted that
“writing code is not a crime,”
a sentiment echoed by many in the cryptocurrency community.
Legal Proceedings and Statements
Interestingly, shortly after his conviction, Matthew Galeotti, an acting assistant attorney general in the DOJ’s criminal division, spoke at a summit hosted by the American Innovation Project, implying that writing code without malicious intentions should not be considered a crime. In spite of these remarks, Jay Clayton, the interim US attorney for Southern New York, filed to contest Storm’s plea for a retrial on November 12. The legal proceedings will continue with a court conference set for January 22, while no sentencing hearing concerning Storm’s conviction has appeared on official records.
Presidential Influence on DOJ
Although a sitting president possesses some power to influence the Department of Justice’s objectives, historical practices often restrict any direct intervention in prosecutorial independence, making it unlikely for a president to instruct federal prosecutors to dismiss charges. Cointelegraph reached out to the Solana Policy Institute for comment regarding the request for Trump’s intervention in this case but received no reply at the time of writing.
