Dutch court finds Tornado Cash founder Alexey Pertsev guilty of money laundering

A three-judge Dutch court found Tornado Cash developer Alexey Pertsev guilty of laundering $1.20 billion of illegal assets on a cryptocurrency hybrid platform. The full court is also expected to hand down the verdict on Tuesday against Alexey Pertsev, a 31-year-old Russian living in the Netherlands. Pertsev's lawyers will have 14 days to appeal the judge's verdict. Experts say the verdict will reshape the process of privacy protection in the decentralized finance sector and have a "chilling effect" on the development of open-source software that provides users with financial privacy protection tools.