Crypto Community Responds to Tornado Cash Sanctions
Hi dear banter family and friends the U.S. government banning the ethereum mixing service Tornado Cash and the enforcement that has followed has the crypto community in an uproar about the event. A large number of crypto and privacy advocates have spoken out against the actions the government has taken so far, and the nonprofit advocacy group Fight for the Future calls the ban “a threat to the future of financial privacy.
Advocacy Group Fight for the Future Says US Government Threatens Financial Privacy — ‘There Are Many Legitimate Reasons to Seek Anonymity in Financial Transactions’
On August 8, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned virtual currency mixer Tornado Cash. The U.S. government claims that the application was used to allegedly “launder more than $7 billion worth of virtual currency since its creation in 2019.” Following the ban, Github contributors were suspended from the software repository platform and on August 12, the Tornado Cash Discord server was deleted.
For more details check the source :
Hi dear banter friends and family i have a question banter fam does it make sense to ban a technology or a path that people uses in a legal way and if some one misuse the technology like criminals etc why dont you go after criminals and stop them.Dear banter fam please leave your comment regarding this Thanks .
