Former SEC Chairman Jay Clayton is now overseeing the trial of Roman Storm, a co-founder of Tornado Cash, set to begin in New York. Clayton, who led the SEC during the first Trump administration, initiated significant lawsuits against crypto firms, including a $1.3 billion case against Ripple for unregistered securities offerings. Clayton’s new role as interim U.S. Attorney for the Southern District of New York positions him at the forefront of this contentious case, which some believe could have severe implications for decentralized finance (DeFi) in the U.S. Roman Storm faces charges related to money laundering and evading U.S. sanctions, and he warned that a conviction could jeopardize the future of DeFi. The tension between regulatory pursuits and the growth of the crypto industry remains a significant concern, especially amid ongoing legal battles like Ripple vs. the SEC that continue to shape the landscape of cryptocurrency regulation.

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