Tag: tornado cash sanction

Aug 27 2022

US Sanctions Limiting Privacy Software Use, Crypto Firms

Earlier this month, the U.S. Treasury Department sanctioned a ban on Tornado Cash, a crypto privacy tool that mixes funds of different users to hide original source of crypto funds. The authority alleged the mixer firm for helping bad actors to launder more than $7 billion in digital assets since its initiation in 2019. As cryptocurrency has caught hype worldwide, it has also...

Aug 26 2022

Is This The Reason Dutch Authorities Arrested The Alleged Tornado Cash Developer?

The plot thickens. Did the supposed Tornado Cash developer arrested in The Netherlands have ties to a Russian security agency? Is a job in 2017 for a company with tenuous connections to Russia enough to justify the arrest? As Bitcoinist told you and...

Aug 24 2022

The EFF Calls Out OFAC, Ratifies Code Is Speech, Asks For Developers Protection

Does the OFAC not know that code is speech? Yesterday, we covered the EFF’s demands for clarity around the Tornado Cash situation and the case they’re defending. Today, we’ll dig into a simple idea, the reason code is protected under free speech laws. As it has for decades in the US. As a bonus, we’ll add the reasons developers need to know that...

Aug 23 2022

The EFF Calls Out OFAC, Asks For Clarity Around The Tornado Cash Situation

It’s time for the EFF to speak out on the Tornado Cash situation. The OFAC sanctioning a smart contract might’ve been going a step too far, they stepped into the Electronic Frontier Foundation’s turf. We could summarize the EFF’s case with this sentence: “for decades, U.S. courts have recognized that code is speech.” It’s as simple as that, but the government and the...

Aug 09 2022

Why The Sanction On Tornado Cash Is A Bear Signal For The Crypto Market

The US sanction on Tornado Cash has now made the rounds and is well-known news by now. The sanction against the famous coin tumbler has been coming for a while, which was not the least expected when it happened due to its affiliations with bad actors that have stolen billions of dollars from investors. However, as more information about the sanction emerges, it...

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