Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
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Re: Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
#2Re: Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
#3Banning a service because it "might be used for illegal purposes" is insufficient. This is a problem with law enforcement in general: they are lazy and seek to have automated solutions to so much of what used to be called police work. This applies to warrant-less wiretaps, pulling information on people from 3rd party data brokers to side-step warrant and FOIA requirements, and more. I would rather money-launderers get away with things and for freedom to prosper than to have an all-encompassing surveillance state.
Re: Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
#4Banning a service because it "might be used for illegal purposes" is insufficient. This is a problem with law enforcement in general: they are lazy and seek to have automated solutions to so much of what used to be called police work. This applies to warrant-less wiretaps, pulling information on people from 3rd party data brokers to side-step warrant and FOIA requirements, and more. I would rather money-launderers ge…
It was used for tumbling, to the tune of $450m by the North Koreans. It's not a theoretical situation.
Re: Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
#5Banning a service because it "might be used for illegal purposes" is insufficient. This is a problem with law enforcement in general: they are lazy and seek to have automated solutions to so much of what used to be called police work. This applies to warrant-less wiretaps, pulling information on people from 3rd party data brokers to side-step warrant and FOIA requirements, and more. I would rather money-launderers ge…
It was used for tumbling, to the tune of $450m by the North Koreans. It's not a theoretical situation.
And yet, somehow, we knew exactly who was doing it. Why the urgency to shut it down?
Re: Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
#6Banning a service because it "might be used for illegal purposes" is insufficient. This is a problem with law enforcement in general: they are lazy and seek to have automated solutions to so much of what used to be called police work. This applies to warrant-less wiretaps, pulling information on people from 3rd party data brokers to side-step warrant and FOIA requirements, and more. I would rather money-launderers ge…
It was used for tumbling, to the tune of $450m by the North Koreans. It's not a theoretical situation.
And what's the value of drugs trafficked over public highways? Or illegal activity coordinated over SMS?
Using volume of illegal activity cannot be the primary factor in categorizing a platform.
Re: Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
#7Re: Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
#8Banning a service because it "might be used for illegal purposes" is insufficient. This is a problem with law enforcement in general: they are lazy and seek to have automated solutions to so much of what used to be called police work. This applies to warrant-less wiretaps, pulling information on people from 3rd party data brokers to side-step warrant and FOIA requirements, and more. I would rather money-launderers ge…
How much of it is used for legitimate reasons versus illicit ones? If the overwhelming majority of the transactions are illicit, it makes sense to ban it.
Re: Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
#9Earlier quoted context omitted.
It was used for tumbling, to the tune of $450m by the North Koreans. It's not a theoretical situation.
And yet, somehow, we knew exactly who was doing it. Why the urgency to shut it down?
You could just read what treasury wrote and argue with facts instead of vague rhetoric about lazy law enforcement
> “Today, Treasury is sanctioning Tornado Cash, a virtual currency mixer that launders the proceeds of cybercrimes, including those committed against victims in the United States,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Despite public assurances otherwise, Tornado Cash has repeatedly failed to impose effective controls designed to stop it from laundering funds for malicious cyber actors on a regular basis and without basic measures to address its risks. Treasury will continue to aggressively pursue actions against mixers that launder virtual currency for criminals and those who assist them.”
Re: Investors sue Treasury Department for blacklisting crypto platform Tornado Cash
#10Banning a service because it "might be used for illegal purposes" is insufficient. This is a problem with law enforcement in general: they are lazy and seek to have automated solutions to so much of what used to be called police work. This applies to warrant-less wiretaps, pulling information on people from 3rd party data brokers to side-step warrant and FOIA requirements, and more. I would rather money-launderers ge…
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