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Tether refused to block the Tornado Cash address without requests from the authorities
The USDT Steabelcoin issuer – Tether – refused to freeze the addresses related to the Tornado Cash transactions service without appropriate requests from law enforcement agencies.
Tether Holds Firm on Decision Not to Freeze Tornado Cash Addresses, AWAITS LAW ENFORCEMENT Instruction https: // T.CO/ZPSI9LKLLF
– Tether (@tether_to) August 24, 2022
“So far, OFAC has not reported that the issuer should freeze the addresses of the secondary market published in the SDN list or managed by persons and organizations that fell under OFAC sanctions. In addition, not a single law enforcement authority or US regulator made such a request, despite our close contacts, ”the statement said.
According to the press release, the blocking of addresses unilaterally in the company is considered a “reckless and destructive” measure. According to experts, such actions can negatively affect the investigation of law enforcement agencies.
Tether criticized the Circle company standing behind the USDC stablecoin, which has entered the blacklist:
“We consider the Circle measures taken without specifying the authorities. They can jeopardize the work of regulators and law enforcement agencies “.
Development Manager of Unstoppable Finance Patrick Hansen emphasized that, despite his position, Tether actively blocks the addresses on the Ethereum network. By this indicator, the company is almost ten times ahead of the USDC issuer.
USDT HAS Banned Almost 10x More Addresses on Ethereum than USDC Pic.Twitter.COM/G4SN1XWKQX
– Patrick Hansen (@paddi_Hansen) August 24, 2022
Infrast and Alchemy infrastructure platforms blocked RPC questions for Tornado Cash. UNISWAP non -castodial exchange also closed access to its platform for a https://gagarin.news/ number of relevant addresses. Similar measures were taken by DEX DYDDX.
On August 8, 2022, OFAC included the Tornado Cash website, as well as related to it 39 Ethereum- and 6 USDC addresses.
On August 12, the Netherlands authorities arrested an unnamed man on suspicion of involvement in money laundering and concealing criminal financial flows through a cryptocurrency mixer. Later it became known that we are talking about the developer of the service Alexei Pertsey.
August 22 in Amsterdam took place a rally in his support. Participants said that open source code is not a crime, and the authorities must pursue these attackers.
CEO of Kraken cryptocurrency exchange Jess Powell called sanctions against Tornado Cash unconstitutional, and TRM Labs analysts – a call for compliance. Pertseva was also supported by the founder of Cardano Charles Hoskinson.
Recall, on August 24, it became known that the Netherlands court left Pertsev under arrest and established a 90-day period during which the first hearing in the case should be held.
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