More than 65 crypto and blockchain firms and advocacy groups have urged President Donald Trump to intervene as federal prosecutors reportedly prepare to retry Roman Storm, the co-founder and developer of Tornado Cash, raising fresh concerns over regulatory overreach and the treatment of blockchain innovators in the U.S. legal system.
Key Points:
- Over 65 crypto and blockchain groups have urged President Trump to intervene in Roman Storm’s legal case and call for clear, innovation-friendly crypto policies.
- The letter requests regulatory clarity from the SEC and CFTC, better tax guidance, and that DOJ drop charges against Storm to protect good-faith software development.
- Advocates stress that strong, balanced government support could position the U.S. as a global leader in blockchain while fostering fair, growth-oriented regulation.
In a November 20 letter, advocacy groups including the Solana Policy Institute, Blockchain Association, and DeFi Education Fund urged President Trump to address key crypto policy issues. They called for clearer tax guidance to prevent activity from moving offshore and asked the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to provide regulatory certainty for developers to build in the U.S.
They also requested that the Department of Justice (DOJ) drop charges against Storm, emphasizing that good-faith software development should be protected rather than criminalized.
“As the President’s Working Group on Digital Asset Markets identified, there are other steps that can be taken by the Administration that deliver quick wins to complement legislative efforts,” the letter wrote. “We strongly support the Administration continuing to use a robust whole-of-government approach on crypto to achieve your objective of making America the crypto capital of the world,” the letter added.
Storm was found guilty in federal court of operating an unlicensed money‑transmitting business, one of the three felony charges he faced. The jury could not reach a verdict on the remaining charges of conspiracy to commit money laundering and conspiracy to violate sanctions.
The Tornado Cash co-founder, who was indicted in August 2023, pleaded not guilty and has maintained that he did not engage in criminal activity, insisting that “writing code is not a crime,” a stance echoed by many of his supporters. Storm’s case continues to draw attention from the crypto industry, with federal prosecutors reportedly preparing for a retrial on the unresolved charges.
The letter from over 65 crypto and blockchain organizations spotlights a broader call for clarity, fairness, and innovation-friendly policies in the U.S. as the industry grows. Advocates say the outcome of these efforts could shape the future of crypto regulation, developer protections, and how America positions itself in the global blockchain landscape, balancing enforcement with support for innovation and economic growth.
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
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