U.S. Senators Lummis and Wyden have disputed the Justice Department’s interpretation of money transmission licensing requirements in the case against Tornado Cash co-founder Roman Storm.
If the Justice Dept. prevails in the case against the cryptocurrency mixer, internet service providers and the post office may also be liable to transmitter requirements, they said.
As the bipartisan authors indicate in a footnote, this interpretation is being applied in the case against Roman Storm, co-founder of crypto mixer Tornado Cash, who has been charged with operating an unlicensed money transmission operation and other serious crimes.The Bank Secrecy Act and the Treasury Department’s Financial Crimes Enforcement Network clearly define money transmission as the acceptance and transmission of currency and other forms of value.
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