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The Trump administration’s claim that the United States is now the “crypto capital of the world” is being tested by ongoing prosecutions of crypto developers despite the passage of the GENIUS Act.
The White House has praised President Donald Trump’s pro-crypto agenda and stablecoin legislation, while regulators signal closer coordination between the SEC and CFTC to deliver on the administration’s promises.
“For others like Roman Storm, the Tornado Cash co-founder awaiting sentencing, ongoing prosecutions make it hard to claim the crackdown is truly over,”
The article noted, highlighting lingering unease among developers.
Storm said it was positive to see the US celebrate itself as a crypto leader, but argued that leadership “isn’t just about stablecoin legislation like the GENIUS Act – it’s about protecting the developers who build the foundational code.”
Concerns have been reinforced by the Samourai Wallet case, where founders Keonne Rodriguez and William Lonergan Hill received prison sentences despite operating a non-custodial product.
The uncertainty has reached Congress, with Senators Cynthia Lummis and Ron Wyden introducing the Blockchain Regulatory Certainty Act to clarify that non-custodial developers are not money transmitters.
Industry figures warn that unless laws clearly distinguish infrastructure providers from financial intermediaries, unresolved risks could push crypto builders and innovation offshore.