The crypto community reacts to the ban on “Tornado Cash” in the United States, and the founder of Ethereum comments!
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Answer The crypto community reacts to the ban on “Tornado Cash” in the United States, and the founder of Ethereum comments!
Earlier yesterday, Ethereum founder Vitalik Buterin tweeted in agreement with another user that services like Tornado Cash are often used for good and good reasons such as donating to help Ukraine.
The tweet came in response to Jeff Coleman, co-founder of Counterfactual:
The “Tornado Cash” platform is a smart contract mixer based on Ethereum, which was previously banned by the US Treasury’s Office of Foreign Assets Control (OFAC) yesterday.
According to the US Treasury Department, Tornado Cash has been used to launder more than $7 billion in cryptocurrency since its inception in 2019, including $455 million stolen by the Lazarus Group.
The ban extended to Roman Semenov, co-founder of Tornado Cash on GitHub and his account suspended, along with a number of other core contributors, including contributions from the Tornado Cash GitHub organization, and smart contract addresses associated with Tornado Cash.
The ban sparked a discussion about services like “Tornado Cash” being used for transactions in the crypto industry and suggested proper regulation for it.
Jerry Britto, CEO of the Coin Center, a non-profit organization working to address issues facing the cryptocurrency market, noted that the ban appears to be a punishment for a tool that is neutral in nature and can be put to good or bad uses.
Brito added that “Tornado Cash” is like any other technology that can be used for good and for bad.
Read:Ronin Bridge Hackers Move $625 Million Into Bitcoin
Jake Chervinsky, a cryptocurrency attorney and head of policy and governance at the Blockchain Association, commented that although the association supports the US Treasury’s mission to combat illicit activity in the crypto space, they are at the same time concerned that the Tornado Cash ban goes beyond. the border.
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