Is DeFi Illegal Now? Tornado Cash Case Update | Jake Chervinsky

Today Jake Chervinsky is back on the podcast to discuss Tornado Cash developer Roman Storm's court case and its implications on DeFi and the crypto industry.    Could DeFi be made illegal in the United States? Are DeFi developers going to be prosecuted if criminals use their code? Is it just DeFi? What other sectors could be at risk? The answers to these and many other questions are discussed in today’s episode.

------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2  

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku  

⚡️CARTESI | LINUX-POWERED ROLLUPS https://bankless.cc/CartesiGovernance   ⁠

🦄UNISWAP | BROWSER EXTENSION https://bankless.cc/uniswap 

⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum 

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 

------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/75?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E 

------ TIMESTAMPS 0:00 Intro 4:44 Roman Storm’s Case 12:52 Is DeFi at Risk? 18:20 The Ruling & Its Implications  21:29 Money Transmission Explained  25:52 Roman Storm’s Arrest 30:54 Are All DeFi Protocols At Risk?  36:17 Prosecution of Privacy 43:11 What This Ruling Means & What’s Next 48:41 Best & Worst Case Scenario 53:11 Other Sectors At Risk 57:35 Other Cases 1:03:48 Totalitarian Nightmare 1:08:21 SEC Updates 1:12:00 US Election 2024 1:17:30 Geofencing 1:23:21 Are We Winning & Conclusion ------ RESOURCES

Jake Chervinsky https://x.com/jchervinsky 

Jake Chervinsky’s Tweet https://x.com/jchervinsky/status/1839412423096467753 

A Practical Guide to Geofencing https://variant.fund/articles/practical-guide-to-geofencing/ 

Defend Roman Storm https://juicebox.money/@defend-roman-storm 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠