Six users of the cryptocurrency mixer that facilitates anonymous transactions on the Ethereum blockchain are challenging the United States Treasury Department’s decision last month to sanction the service. (The Logic)
Six users of the cryptocurrency mixer that facilitates anonymous transactions on the Ethereum blockchain are challenging the United States Treasury Department’s decision last month to sanction the service. (The Logic)
Six users of the cryptocurrency mixer that facilitates anonymous transactions on the Ethereum blockchain are challenging the United States Treasury Department’s decision last month to sanction the service. (The Logic)
Talking point: The lawsuit will be an important test of some key values of the cryptocurrency sector. Crypto undermines the ability of governments to control economic activity of all kinds, with mixing services like Tornado Cash making it even more difficult for authorities to trace transactions. Proponents argue this is a good thing, upholding the democratic principles of freedom and privacy—in this case allowing a plaintiff in the lawsuit to make an anonymous donation to Ukraine. Detractors, such as the Treasury Department, argue any such benefits to legitimate users are outweighed by the cover it provides to money launderers and cyber criminals. Coinbase argues the Treasury Department exceeded its authority with the Tornado Cash sanctions by targeting an open source technology, rather than individual bad actors.
Loading...
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseIf you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseYou have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.