TornadoCash

Roman Storm, founder of cryptocurrency mixer Tornado Cash, faces conviction for operating an unlicensed money transmitting business while jurors deadlocked on money laundering and sanctions evasion charges.

On July 17, 2025, Congress plans to vote on major cryptocurrency bills, including the GENIUS Act for stablecoins and the CLARITY Act for token markets. Market optimism grows as Ethereum and other tokens rally. Meanwhile, the high-profile trial of Tornado Cash co-developer Roman Storm raises debates over privacy and regulation. Industry developments include Coin Metrics' acquisition by Talos and Coinbase's new Base app.

The Senate has passed a key hurdle for the GENIUS Act on stablecoin legislation, highlighting the importance of blockchain regulation even amidst ethical concerns over high-profile crypto deals and a leadership gap in the CFTC. The DOJ pursues charges against Tornado Cash developers, while Coinbase eyes acquisition opportunities. Texas too moves closer to a Strategic Bitcoin Reserve legislation, joining other states in the crypto wave.