COINBASE AND KRAKEN CLEAR TO BLOCK THE PROCESSING OF WEBSER

26. Marta, an open letter signed by 34 Cripto companies, corrected the code interpretation and congressions, where the Lord has made the developers such as the developers in “unlicensed money transferred to” unlicensed money “.

The letter It does not mention the Tornado in cash or self-government developers, processed due to their involvement in creating the corresponding platforms of Bitcoin Mixer. However, the letter is based on the Cash Tornado case. He saw the light of day after recent removal of economic sanctions applied to cash tornadoes. The raising of sanctions received victory for the crypto industry, but not the ultimate victory, because the interpretation of the Law Doy created a precedent, dangerous for other software developers.

What is in this letter?

In the letter Urged officials to revisit the code interpretation, the note that the doj’s policy position “Creates confusion and ambigility with the spectro of criminal liability, and ultimately threatens the viability of us-based software development in the digital aset industry and other Industries. ” They concluded that “in this interpretation, basically every block programmer block can be processed as a criminal”.

According to the letter, the term “money transfer money” was mentioned in the American law twice in the Criminal Code and the Law on Licensing the Bank. The lists point out that in accordance with the Code will participate in “cash affairs”, it is necessary to possess and manage other people’s funds in their name. Without this ownership, “the job convey money” is something else. Developers creating unintentional Web3 platforms do not have access to users. Moreover, the platforms such as cash tornadoes are decentralized and open source. Also, it’s not a job. Therefore, developers cannot be evaluated for “an unlicensed job that transfers money”.

Here’s what the letter says:

“Doy ignored these guidelines and precedent to follow the new interpretation of the individual software. Result: Two separate US government agencies with conflicting interpretations” money transmission “- a vague, unjust position for participants and innovators.”

The letter concludes that if the problem does not leave without actions, developers will eventually work at risky and vague conditions, not knowing whether the Law is respected by the law. It can cover innovations in the US and push many bright talents to seek wealth abroad.

Tornado Cash Case

Large companies like waitress, Kraken, Ledger, Ekodus, Unisvap Laboratory and many others signed the letter. Their concern is understood. Everyone wants the American Block Industry progressing and develops under normal conditions in which crimes committed for crimes committed by people who use their free software for bad.

The letter claims that the LONG used a misinterpreted law in August 2023. years for the criminal indictment. It is clear that it can be connected to the moment when freight developers in the Roma Storm and Roman semen are charged with money laundering. While the seeds are at large, the storm was released on the bail and await the trial. For him, the correction in the interpretation of the DOJ can be vital.

Tornado Cash is not the only protocol whose developers turn on problems due to the wrong interpretation of the Law Land. Sampery wallet is another great case. Its creators, Keonne Rodriguez and William Lonergan Hill, face serious charges related to money laundering. The United States has blocked the service.

Many technological influences, including the famous whistleblower Edward Snowden, criticized the breastfeeding innovator instead of fighting real criminals. Cryptoquant CEO Young noticed that the punishment of a co-historic founder is like punishing the knife inventor, instead of punishing those who use knives for crime.

Tornado Cash has been blocked from 2022. year of foreign fundraising office, but at 21. Marta, Treasury announced She raised sanctions against Tornado Cash, which enabled legal to use the mixer platform. However, the cash register emphasized that it was very worried about the use of Tornado CACH by hackers supporting states from the Democratic People’s Republic of Korea. The Agency claims that it will keep the DRK sanction for the use of stolen crypto Funding of weapons for mass destruction. Evaluation of money laundering via the Cash Tornado by North Korean Hacker is $ 7 billion.

Although the use of cash tornadoes is not forbidden, safety experts warn that the front end of the service is endangered. Allegedly, it has a malicious JavaScript that is able to steal crypto from the user. They invite to provide security before celebrating the privacy of transactions again using tornado money.