Developers of the Tornado Cash system have pleaded not guilty to money laundering and other charges

Due to regulatory pressure, cryptocurrency exchange Binance has decided to delist four cryptocurrencies in Belgium.

Roman Storm, the creator of the cryptocurrency Tornado Cash, appeared in court on Wednesday and pleaded “not guilty” to allegations of conspiracy to run a money transmitter or enable money laundering and sanctions evasion.

Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York ruled that Storm, a dual U.S. and Russian citizen, would be allowed to go free on a $2 million personal recognizance bail if it was collateralized by his home in Washington state and co-signed by one “financially responsible” individual.

Two weeks ago, Storm was detained on allegations of money laundering, money transmission without a license, and penalty violations. Together with Tornado Cash’s other engineers and co-founders, Roman Semenov and Alexey Pertsev, he is accused by prosecutors of aiding criminals in laundering over $1 billion in illicit cryptocurrency, including “hundreds of millions” for North Korea.

The Dutch government detained Pertsev last year, and he is now in jail there as he awaits trial. Despite being indicted with Storm, police have yet to make an arrest on Semenov.

Formerly, Storm’s attorney, Waymaker LLP partner Brian Klein, had stated that the federal government was adopting a “novel legal theory” to punish someone for producing code.

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