Roman Storm, co-founder of crypto mixer Tornado Cash, has been found guilty by a U.S. jury on a single count of conspiring to operate an unlicensed money transmitting business.

The jury remained deadlocked on two more serious charges: conspiracy to commit money laundering, including laundering funds for North Korea’s Lazarus Group, and conspiracy to evade U.S. sanctions.

While those two charges carry a maximum sentence of 20 years in prison each, the charge Storm was found guilty on still carries a maximum sentence of five years in prison.

This story is an excerpt from the Unchained Daily newsletter.

“While the jury couldn’t agree on the serious charges, the conviction on operating an unlicensed money transmitter sends a concerning signal,” said Daniel Brunsdon, head of growth and product at decentralized identity protocol Holonym, in a statement shared with Unchained.

The wider crypto community seemed to echo those sentiments, with Blockchain Association noting that the verdict “sets a dangerous precedent for open-source software developers.”

Storm remains free on a $2 million bond, having not been taken into custody after the verdict. Sentencing by U.S. District Judge Katherine Failla is scheduled for a later date.

Storm’s legal team has indicated plans to appeal the conviction or seek its dismissal through post-trial motions.