Crypto trials need clearer explanations of DeFi and its rules

The recent case of United States v. Peraire-Bueno highlights the complexities faced by jurors when dealing with cryptocurrency allegations such as wire fraud and money laundering. Unlike straightforward cases like those in major league baseball where crime is easily understandable, the Ethereum exploit case left jurors confused about the nuances of decentralized finance and the nature of code. The Peraire-Bueno brothers exploited Ethereum's code to make $25 million, but prosecutors struggled to prove that anyone was defrauded. The defense argued that code cannot be dishonest, and that the results of their actions were publicly available and transparent. Ultimately, after extended deliberations, the jury declared a mistrial due to the overwhelming confusion, with jurors expressing stress and exhaustion. This case reveals the pressing need for clearer explanations of DeFi rules in legal contexts, as the intricacies of blockchain technology can lead to significant challenges in traditional judicial systems.

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