Tornado Cash co-founder Roman Storm has been convicted of operating an unlicensed money transmitting business, but avoided a sanctions charge and a money laundering verdict, for now (1:13). Plus: SBI Holdings eyes a crypto-gold trust and a Bitcoin-XRP ETF in Japan (2:46), China warns against iris scans for crypto rewards (hinting at World) (4:20), and the Philippines blocks global exchanges amid a crypto crackdown (5:52).
This is your essential update on the forces shaping what’s next in money.
More on stories and articles discussed or referenced in this episode:
Aquino, Alyssa. “Judge Declares Partial Mistrial in Crypto Mixer Money Laundering Case.” New York Law Journal, 6 August 2025, https://www.law.com/newyorklawjournal/2025/08/06/judge-declares-partial-mistrial-in-crypto-mixer-money-laundering-case/?slreturn=20250806150225.
Borak, Masha. “China Warns Against Submitting Biometric Data in Return for Crypto, Hinting at World.” Biometric Update, 6 August 2025, https://www.biometricupdate.com/202508/china-warns-against-submitting-biometric-data-in-return-for-crypto-hinting-at-world.
Dioquino, Vince. “Philippine SEC Cuts Access to Offshore Crypto Exchanges.” Decrypt, 6 August 2025, https://decrypt.co/333757/philippine-sec-cuts-access-to-offshore-crypto-exchanges.
Khalili, Joel. “Tornado Cash Developer Roman Storm Guilty on One Count in Federal Crypto Case.” Wired, 6 August 2025, https://www.wired.com/story/tornado-cash-developer-roman-storm-guilty-on-one-count-in-federal-crypto-case/.
Masrani, Annika. “SBI Drops a Crypto Bombshell with Japan’s First Bitcoin-XRP ETF Plan.” TipRanks, 6 August 2025, https://www.tipranks.com/news/sbi-drops-a-crypto-bombshell-with-japans-first-bitcoin-xrp-etf-plan.
“Unregistered Crypto Platforms Continue to Target Filipinos — SEC to Enforce Sanctions Against Violators.” Enforcement and Investor Protection Division, Securities and Exchange Commission (Philippines), 6 August 2025, https://www.sec.gov.ph/advisories-2025/unregistered-crypto-platforms-continue-to-target-filipinos-sec-to-enforce-sanctions-against-violatorsthe-securities-and-exchange-commission-sec-warns-the-public-against-engaging-with/#gsc.tab=0
The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.
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