- US Treasury has Tornado -Contant money away from the sanction list, with 100% profit for torn profit
- Insiders greeted the update as a ‘victory’ for privacy technology in Crypto
On March 21, the US Treasury Tornado Cash, a cryptocurrency mixer that hides transaction paths and recipients, will have its sanction list. As expected, Marktinsiders greet the update as a different legal victory for privacy-oriented technology.
Respond to the update, Coinbase founder Brian Armstrong said”
“Nobody wants to see that bad people use crypto. But privacy is an important function for many citizens’ citizens, and you cannot punish an open source code (it is a problem with freedom of expression). I am happy that this is being resolved.”
The alleged Noord -Korea tires of Tornado Cash
In August 2022, the BIDEN -Administration Tornado Cash (TC) punished under the office of the Treasury Department of Foreign Assets Control (OFAC). This, after reports that North Korean actors used the platform to launder billions of dollars that were hacked from the crypto space. The founders and developers of Tornado -Contant money, including Alexey Pertev and Roman Storm, were also charged.
This, despite some industrial figures that call for the prosecution of bad actors, instead of platformmakers or developers.
However, it is worth noting that an American court ruled Last November, the OFAC exceeded its authority by punishing Tornado -Contant money. And yet the platform remained blacklist until yesterday.
In a statement, the American Finance Minister Scott Bessent repeated the same sentiment. He said“
“Secure the digital assets industry against abuse by North Korea and other illegal actors is essential to establish American leadership and to ensure that the American people can benefit from financial innovation and inclusion.”
Armstrong of Coinbase added that he is ready to work with the government to combat the “0.1% of illegal activity in crypto”, according to the American laws.
Thanks to the latest update, Balaji Srinivasan, former Coinbase CTO, called For immediate grace and refund for the founders of Tornado Cash.
“Privacy wins. Tornado -Contant money is legal. Now Roman Storm and Alexey Pertev have to be released immediately, grace and reimbursed by the State for their invalid persecution.”
For his part, Roman Storm greeted the deletion as a ‘victory‘For privacy technology and torn, the native token of TC. In fact, after the news exploded by more than 100% and jumped from $ 8 to almost $ 16. At the time of writing, most of these profits were lost.
Source: Torn/USDT, TradingView
