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News

Tornado Cash Account Of Co-Founder Was Suspended At GitHub

August 9, 2022 - Around 2 mins mins to read
Roman Semenov, one of Tornado Cash’s co-founders, has reported that his account on the development platform GitHub has been suspended as a result of the US Treasury Department’s approval of the privacy protocol.
Tornado Cash Account Of Co-Founder Was Suspended At GitHub
Tornado Cash Account Of Co-Founder Was Suspended At GitHub 3

In a Monday tweet, Semenov stated that, despite not being identified as a Specially Designated National, or SDN, by the Treasury’s Office of Foreign Asset Control, he appeared to be suffering penalties from the Treasury, which claimed Tornado Cash had laundered more than $7 billion in cryptocurrencies.

Being classified as an SDN appears to cover any relationship for commercial objectives, which might include GitHub associations. Prohibited transactions might include “downloading a software patch from a sanctioned entity,” according to a joint statement from the Federal Financial Institutions Examination Council and the Office of Foreign Asset Control.

Semenov called the move to suspend his account “a bit illogical.”

Some pro-crypto activists argue that the Treasury’s actions against Tornado Cash were the censure of a “neutral instrument” rather than the targeting of people who used it for illegal purposes.

The Blockchain Association’s head of policy, Jake Chervinsky, suggested the US Treasury Department‘s decision may have “crossed a line” between prosecuting bad actors and those who degrade the tools and technology they may employ.

Tornado Cash Account Of Co-Founder Was Suspended At GitHub
Tornado Cash Account Of Co-Founder Was Suspended At GitHub 4

Executive director of Coin Center, Jerry Brito said:

“It is not any specific bad actor who is being sanctioned, but instead it is all Americans who may wish to use this automated tool in order to protect their own privacy while transacting online who are having their liberty curtailed without the benefit of any due process.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Federal Financial Institutions Examination Council

Github

Jerry Brito

Office of Foreign Asset Control

Roman Semenov

SDN

Tornado cash

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Tornado Cash Account Of Co-Founder Was Suspended At GitHub

Roman Semenov, one of Tornado Cash’s co-founders, has reported that his account on the development platform GitHub has been suspended as a result of the US Treasury Department’s approval of the privacy protocol.
Tornado Cash Account Of Co-Founder Was Suspended At GitHub
Tornado Cash Account Of Co-Founder Was Suspended At GitHub 7

In a Monday tweet, Semenov stated that, despite not being identified as a Specially Designated National, or SDN, by the Treasury’s Office of Foreign Asset Control, he appeared to be suffering penalties from the Treasury, which claimed Tornado Cash had laundered more than $7 billion in cryptocurrencies.

Being classified as an SDN appears to cover any relationship for commercial objectives, which might include GitHub associations. Prohibited transactions might include “downloading a software patch from a sanctioned entity,” according to a joint statement from the Federal Financial Institutions Examination Council and the Office of Foreign Asset Control.

Semenov called the move to suspend his account “a bit illogical.”

Some pro-crypto activists argue that the Treasury’s actions against Tornado Cash were the censure of a “neutral instrument” rather than the targeting of people who used it for illegal purposes.

The Blockchain Association’s head of policy, Jake Chervinsky, suggested the US Treasury Department‘s decision may have “crossed a line” between prosecuting bad actors and those who degrade the tools and technology they may employ.

Tornado Cash Account Of Co-Founder Was Suspended At GitHub
Tornado Cash Account Of Co-Founder Was Suspended At GitHub 8

Executive director of Coin Center, Jerry Brito said:

“It is not any specific bad actor who is being sanctioned, but instead it is all Americans who may wish to use this automated tool in order to protect their own privacy while transacting online who are having their liberty curtailed without the benefit of any due process.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News