- The US Treasury listed tornado cash in the sanctions list and triggered a torn 100% profit.
- The rich man welcomed the update to the ‘victory’ of Crypto’s personal information protection technology.
On March 21, the US Treasury listed the Tornado Cash, a cryptocurrency mixer that hides a trading trail and a recipient in a sanction list. As expected, the market insiders welcomed the update with another regulatory victory of personal information intensive technology.
In response to the update, Coinbase founder Brian Armstrong Sayed,,,
“No one wants to see that bad people use encryption, but privacy is an important feature for citizens who comply with a lot of laws, and you can’t sanction open source code (free media issue).
Tornado Cash North Korean Link
In August 2022, the BIDEN administration sanctioned the Tornado Cash (TC) in accordance with the OFC of the Treasury. This is after writing a report that North Korean actors are washing billions hacked in encryption spaces using the platform. Founders and developers of Tornado Cash, including Alexey PertSev and Roman Storm, were also prosecuted.
This is despite some industry figures that require the prosecution of bad actors than platform producers and developers.
However, it is worth noting in the US court. I ruled In November, OFIC exaggerated its authority by sanctioning tornado cash. Nevertheless, the platform remained on the blacklist until yesterday.
In the statement, Scott Bessent, US Treasury Secretary, repeated the same feelings. that Sayed,,,
“Securing the digital asset industry from the abuse of North Korea and other illegal actors is essential to establish US leadership and to allow Americans to benefit from financial innovation and inclusion.”
Coinbase’s Armstrong added that in accordance with the US law, he is ready to cooperate with the government to fight 0.1%of illegal activities in encryption.
Latest update, Balaji Srinivasan, former Coinbase CTO, ~ Called ~ Instant forgiveness and compensation for tornado founders.
“Privacy wins. Tornado cash is legal. Now Romans Storm and Alexi Fer Soup must be immediately liberated, forgiven and repaid.”
Roman storms welcomed his listing as ”.victory‘Personal information protection technology and tokens of TC. In fact, the torn torn has exploded more than 100% after the news and increased from $ 8 to $ 16. At the point of writing, most of these profits have been lost.
Source: Torn/USDT, TradingView