Introduction of Tornado Cash Crypto Mixer to the sanctions list has no examples and threatens privacy and innovation. About it in an interview CoinDesk said member of the US House of Representatives Tom Emmer.
The legislator doubted the rightness OFAC.
“This is an unprecedented shift in sanctions policy. OFAC’s priority is to protect national security. Congress could ask the agency to reiterate its position that sanctioned addresses are controlled by people, not code. It also needs to be explored what this means for privacy and innovation rights.” he said.
According to Emmer, sanctions against Tornado Cash have sparked internal debate over the industry’s oversight. He told his colleagues that he doubted the quality of this work by the departments.
When it comes to digital assets, it should be up to Congress to determine “what fits the definition of cash, commodities and/or securities” and which agency should be responsible for regulating each, Emmer explained.
congressman again criticized politics SEC. He noted that the Commission acts as a “body for extortion.”
Emmer predicted no changes to cryptocurrency legislation in the remaining 28 days of Congress this year. He called it “highly likely” that there will be regulatory clarity going forward.
Recall, Kraken CEO Jess Powell named sanctions against Tornado Cash are “unconstitutional”.
Former members decentralized autonomous organization Tornado DAO called on the community hire a team of lawyers to challenge the blocking of the service in court.
Later on intent challenge US-imposed restrictions said the crypto-industry-focused advocacy organization Coin Center.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
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Introduction of Tornado Cash Crypto Mixer to the sanctions list has no examples and threatens privacy and innovation. About it in an interview CoinDesk said member of the US House of Representatives Tom Emmer.
The legislator doubted the rightness OFAC.
“This is an unprecedented shift in sanctions policy. OFAC’s priority is to protect national security. Congress could ask the agency to reiterate its position that sanctioned addresses are controlled by people, not code. It also needs to be explored what this means for privacy and innovation rights.” he said.
According to Emmer, sanctions against Tornado Cash have sparked internal debate over the industry’s oversight. He told his colleagues that he doubted the quality of this work by the departments.
When it comes to digital assets, it should be up to Congress to determine “what fits the definition of cash, commodities and/or securities” and which agency should be responsible for regulating each, Emmer explained.
congressman again criticized politics SEC. He noted that the Commission acts as a “body for extortion.”
Emmer predicted no changes to cryptocurrency legislation in the remaining 28 days of Congress this year. He called it “highly likely” that there will be regulatory clarity going forward.
Recall, Kraken CEO Jess Powell named sanctions against Tornado Cash are “unconstitutional”.
Former members decentralized autonomous organization Tornado DAO called on the community hire a team of lawyers to challenge the blocking of the service in court.
Later on intent challenge US-imposed restrictions said the crypto-industry-focused advocacy organization Coin Center.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
Found a mistake in the text? Select it and press CTRL+ENTER
