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Tornado Cash Co-Founder Gains Paradigm Support in Lawsuit
- Paradigm supports Roman Storm in the Tornado Cash lawsuit.
- The case could impact U.S. software and DeFi development.
- Ethereum Foundation donates $500K to Storm’s defense.
- Venture capital firm Paradigm files amicus brief supporting Roman Storm, co-founder of Tornado Cash, in a lawsuit regarding money laundering and unregistered money-transmitting.
- The prosecution must prove Storm's awareness of money transmission operation as alleged in the case of United States v. Storm.
- Storm faces charges related to Tornado Cash, a software protocol enabling private Ethereum blockchain transactions and allegedly involved in illegal fund transfers exceeding 1 billion.
- Paradigm argues the necessity of specific evidence to find Storm guilty, including fee charging, fund control, and dealing with criminal proceeds.
- The lawsuit raises questions about criminal liability for open-source code developers and the implications for software development in the U.S.
- Strong industry support, including donations from Ethereum Foundation and the community, aids Storm's legal defense.
- The trial outcome may set a precedent for DeFi and open-source software development, influencing future regulations around privacy-focused tools.
- Hearings for oral arguments are set for June 25, 2024, before Judge Katherine Polk Failla, maintaining the focus on privacy, innovation, and cryptocurrency regulation.
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