Briefly
- Former President Sec Jay Clayton is now overseeing the trial of Tornado Gotovina Program Roman Storm, which he should start on Monday.
- Clayton led Sec under the first Trump administration, and was recently appointed a temporary American lawyer for southern New York district.
- Clayton’s crypto record is extremely mixed: he launched lawsuits against some of the largest crypto companies in SEC, and then worked at Cryptou and now oversees Storm’s trial, which many in cryptocurrencies could threaten define in the United States.
Since the cryptocurrency for cryptocurrency by President Donald Trump, the American Digital Property Industry lost most of her Favorite villainsand many of his most prized martyrs.
But in the United States, at least one victim of the so -called “Krypto war” remains: Roman Storm, co -founder of the popular Mixing Service of Tornado Cash coins, who should go to a trial on Monday in New York for a criminal conspiracy to commit money and avoid US sanctions.
And the man who is now charges in that prosecution? No one else than Jay Clayton, a former crypto villain, turned again to the hero, turned again to the villain, who had previously served as the presidency of the SEC during the first Trump administration.
While the vast majority of the wrath of the crypto industry on the regulators were directed, for years, in the stool of Biden-Doba SEC Gary Genseseither Clayton Who initiated the Sec’s prohibition of cryptocurrencies and the Greenlit of some of the most prominent lawsuits of the financial regulator against the industry.
At the end of 2020, for example, Clayton – in one of his last works as chairman of the Sec’s – who was full of a via a A $ 1.3 billion suit against industrial giant shooting. The lawsuit reportedly illegally offered unregistered securities when selling XRP, tokens developed by the founders of the company. Most of the Gensler’s sec Later cases Against the leading publishers and exchange of the crypto token, the mirror of the claim would be made in a firing lawsuit – which is still not official determination.
In his mandate led by SEC, Clayton stated 57 cases against Kripto companies, ICO and other projects based in Blockchain, a proudly-proud statistics charged On the exit of the agency 2021.
After leaving the Government, Clayton returned by practicing law at New York’s White Shoe, Sullivan & Cromwell. Also, interestingly, he joined the Advisory Committee Firefightersa cryptocurrency provider.
In April, Clayton re -entered the Government fold when President Trump appointed Temporary American Lawyer for New York Southern District – Key place to monitor some of the most prominent prosecutors of the Ministry of Justice, including those of Sean “Diddy” Combs, Luigi Mangione, and Onesmed Found, FTX founder Banka-fried.
This list of accused also includes a storm of Tornado Casha, against which Trump’s administration continued to submit allegations, despite the fact that the treasury department fell his case Against Tornado Gotovina earlier this week, and the Ministry of Justice in April To withdraw the intermediary services offered by similar services of “mixing of coins” focused on privacy.
While cryptocurrency leaders hesitated publicly criticize any element of another Trump administration, with respect to that numerous gifts He has so far expressed the intercessors of the industry, definition and privacy care In order to successfully persecute the storm to create automated websites that offer privacy protection for their crypto transactions, a harmful precedent to target software programmers, and even risk destroying the US Defect Industry.
Definitely refers to the CRIPTO application subset, probably the heart of the industry, which allows digital property trading without permission and non-stroke. Before hitting a large exchange like Coinbase, almost every notable crypto assets are initially traded on the Define application on the original blockchain network.
Storm recently framed the potential of his upcoming trial on that ecosystem sharply: “If I lose, defines it dies with me.”
Yet under Clayton’s leadership, Trump’s Doy -O’s SDNY Office has pushed forward with its case against software developers. Clayton’s name adorned the cover of many before the quarrel movement submitted by the Ministry of Justice in the Storm case, which in some cases have successfully prevented a certain pro-CCTO legal precedents from the discussion at the trial.
Source familiar with the SDNY operations he said DecipherHowever, that the Prosecutor’s Office’s proposals are mostly signed by the US lawyer-which it supervises all cases in the district but does not resolve daily litigation.
The Storm trial should start on Monday, on Donji Manhattan. The trial will be a gathering of cryptocurrencies in more than one way: a judge of the case, Katherine Faill, has previously overseen the intense, longtime lawsuit of the Sec’s secu against CoinbaseWhat did Trump’s administration rejected in February.
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