Roman Storm was convicted for conspiracy to operate an unlicensed money transmitting business under Section 1960. The jury was deadlocked on money laundering and sanctions. DOJ will decide in the coming days if it wants to retry those charges in a new trial. A sad day for DeFi.

The government should never have brought this case. Section 1960 should not apply to the developer of a non-custodial protocol who lacks control of user funds. This case should go up on appeal. Hopefully the Second Circuit will correct this (and many other) errors in the case.

This is a terrible outcome for Roman and for all of crypto. If the Trump administration wants the USA to be the crypto capital of the world, then DOJ must not be allowed to retry the two deadlocked charges. This is existential. If you've been sleeping on Section 1960, wake up.