Since President Donald Trump’s return to crypto fuel, the US digital asset industry has lost most of it My favourite villainand its most respected Martial artist.
However, in the United States, at least one casualty remains of the federal government’s so-called “crypto war.” Co-founder of Tornado Cash, the co-founder of the popular coin mixing service, Rome Storm.
And is that prosecutor leading the charges now? Other than Jay Clayton, the former code villain, he has become a hero and once again become a villain.
Although most of the crypto industry’s rage against regulators was directed by Biden-era SEC chairs for years. Gary Gensit was Clayton It launched the SEC crackdown against Crypto, bringing some of the financial regulator’s most notable lawsuits against the industry green.
For example, in the second half of 2020, Clayton (one of his final acts as an SEC chair), $1.3 billion lawsuit Against the huge ripples of the industry. The lawsuit alleges that Ripple illegally provided unregistered securities when selling XRP. Most of Gensler Sec Later case It reflects claims made in Ripple Suit against the exchange with the issuer of the major crypto token. solve.
During his tenure as head of the SEC, Clayton filed 57 lawsuits against crypto companies, ICOs and other blockchain-based projects. Promotion I’m on my way out of the agency in 2021.
After leaving the government, Clayton returned to law practice at the Whiteshaw New York company Sullivan & Cromwell. He also, interestingly, joined the advisory committee. Fireblockcrypto protection provider.
In April, President Trump reentered the government’s crease Appointment Interim US Attorney for the Southern District of New York – A key post that oversaw some of the Department of Justice’s most famous criminal prosecutions, Sean “Diddy” Combs, Luigi Mangione and once upon a time, founder of FTX Sam Bank Freed.
The defendants’ list also includes a tornado cash storm that the Trump administration has continued to pursue accusations despite the fall of the Treasury Department. In that case Regarding tornado cash and the Department of Justice’s pledge earlier this week April Retreats intermediary services that offer similar privacy-focused “coin mixing” services.
Crypto leaders are hesitant to publicly criticize elements of the second Trump administration, but Many gift So far, I’ve handed over the industry. anxiety With the successful prosecution of Storm to create automated websites that serve users, privacy protection for users’ crypto transactions sets harmful precedents to target software developers, and even risks destroying the US Defi industry.
Defi refers to a subset of cryptographic applications that are undoubtedly the industry’s centre that allows for unauthorized, non-mandatory transactions of digital assets. Before hitting a massive exchange like Coinbase, it has recently been traded first in Defi applications running on native blockchain networks.
Storm himself recently very much framed the possibility of his future trial on that ecosystem Totally: “If I lose, defi will die with me.”
Still, under Clayton’s leadership, Trump Dozi’s SDNY office I was pushed first In that case for software developers. Clayton’s name has appeared on the covers of many pretrials Movement It was submitted by the Department of Justice in the case of Storm. Legal precedent Because it will be discussed in court.
A source familiar with SDNY’s operations said DecryptionHowever, the fact that claims filed by the prosecutors in the office are generally signed by US lawyers oversees all cases in the district, but do not deal with the issues of daily litigation.
The Storm trial is scheduled to begin Monday in Lower Manhattan. This trial will be a crypto reunion in one or more ways. Case judge Katherine Faila previously oversaw a fierce and long-standing lawsuit for the SEC. Against Coinbaseit was rejected by the Trump administration. February.
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