Tornado Cash indictment fails to show ‘clear violation’ of certain laws: Coin Center
Crypto advocacy group Coin Center has actually criticized the newest indictment of two former Tornado Cash designers, arguing that the facts used dont reveal any clear violations of money-transmitting-related offenses.Roman Storm and Roman Semenov were arraigned by the United States Office of Foreign Asset Control on Aug. 23 for conspiring to run an unlicensed money-transmitting organization, amongst other charges.In a follow-up opinion piece, Coin Center research study director Peter Van Valkenburgh argues that the claims in the indictment appear to run counter to assistance from the United States Financial Crimes Enforcement Network– arguing that Twister Cash only offers the software to send money rather than transmitting the money itself.New Twister Money indictments appear to run counter to FinCEN guidanceCoin Centers initial ideas on a case that could possibly criminalize the publication of software application codehttps:// t.co/ YCBv3vsZAE– Neeraj K Agrawal (@NeerajKA) August 23, 2023
Valkenburgh also slammed claims in the indictment suggesting that Storm and Semenov had total control over the procedures wise contracts. This is the key reality required to determine whether one is performing cash transmission,” he argued.Related: Crypto lobbyists still battling to axe unlawful Tornado Cash sanctions Coin Center first voiced its opposition toward the U.S. Treasury in October when it took legal action against the company for its unmatched and illegal sanctioning of Tornado Cash.The OFAC indictment claims Storm and Semenov ran an unlicensed money transmission service by engaging in the service of transferring funds on behalf of the public. The enforcement firm claimed the designers should have signed up with FinCEN.Semenov was added to OFACs list of Specially Designated Nationals and Blocked Persons on Aug. 23, while Storm was jailed by the Federal Bureau of Investigation in Washington state on the same day.Alexey Pertsev, another one of Tornado Cashs creators, was imprisoned by Dutch authorities in Aug. 2022 prior to being launched in late April.Valkenburgh believes the result of the Tornado Cash legend will have a profound effect on the legal rights of United States citizens to construct and publish software in the future.Magazine: Magazine: Tornado Cash 2.0– The race to construct legal and safe coin mixers