Tornado Cash BANNED By OFAC... Is this the War on Crypto?
Bankless
Tornato Cash
In reality, tornado cash is not a person nor a business entity. It's an open or software tool that can't be sanctioned by the government. A frequent take from big coiners that i love is that thereis no such thing as actually banning bitcoin. But the idiosyncrasies continue.
On Monday, the U.S. Treasury Department made a smart contract illegal.
They can do that??
David walks you through the news, with multiple interviews from Jerry Brito and Collins Belton, two experts in the matter.
Let us know how you like the format!
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------ Topics Covered:
0:00 Intro Opening Shot: https://twitter.com/RyanSAdams/status/1556743328774995971?s=20&t=OzfqFxxolrjhwZICo4KV6w Ripple Effects: https://twitter.com/collins_belton/thread/1556650759994970113 Neutral Tool: https://twitter.com/jerrybrito/status/1556667240711438337?s=20&t=avKH9mQ1_3KDno2P2THs7Q
4:00 What is OFAC? Overview: https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information Press Release: https://home.treasury.gov/news/press-releases/jy0916 Sec Blinken: https://twitter.com/SecBlinken/status/1556677862345801728?s=20&t=QwqpNxU9CYKPz8LhBATSFQ
7:44 What is Tornado Cash? Breakdown: https://blog.chainalysis.com/wp-content/uploads/2022/08/tornado-pie-1536x1034.png Treasury Misleading: https://twitter.com/USTreasury/status/1556655337431785472?s=20&t=Jw5y0Xr4fHSelCzfhWvYlQ Alex Svanevik: https://twitter.com/ASvanevik/status/1556983834809614337?s=20&t=OCDr5P9jRweG9RVYdmmxKQ
10:20 Using Tornado Cash Neeraj Meme: https://twitter.com/NeerajKA/status/1556707552251060225?s=20&t=UNffL4gM4hBsaXDEZ0gJ_w Clean ETH2 Addresses: https://twitter.com/econoar/status/1556775153153048582?s=20&t=63-Nwh2Lv7u8tTC4E-CVUw More Use Cases: https://twitter.com/RezaJafery/status/1556751888896258049?s=20&t=9rJ2buSh4PCTPMlNKezAyw
12:15 Banning Smart Contracts Coin Center Announcement: https://www.coincenter.org/u-s-treasury-sanction-of-privacy-tools-places-sweeping-restrictions-on-all-americans/
17:08 Ripple Effects Circle: https://www.theblock.co/post/162172/circle-freezes-usdc-funds-in-tornado-cashs-us-treasury-sanctioned-wallets Github: https://twitter.com/bantg/status/1556721709931175937?s=20&t=LSCI_12-Giipv727Y52qUg Infura & Alchemy: https://twitter.com/0xdev0/status/1556933551073153024
20:55 A Ban on Who? Cobie & Gainzy: https://twitter.com/cobie/status/1556647650212155394?s=20&t=F8nhR0zX4PkbGGOl1JmBCQ Depositing .1 ETH: https://twitter.com/josephdelong/status/1557011056572129280?s=20&t=F1JszlO7Zm0lm4EGsgBrNg
23:14 A Chilling Effect Attacking Free Speech: https://twitter.com/matthew_d_green/status/1556764387796340736?s=20&t=w8K19sEWj_AVS372HOjHTw
25:47 Decentralization Priorities: https://twitter.com/econoar/status/1556825245381578753?s=20&t=63-Nwh2Lv7u8tTC4E-CVUw
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