Webp 7nfw9e53xwknijimxnmzlponlxe8

Tornado Cash cases prompt call for legal clarity in blockchain transparency

ORGANIZATIONS IN THIS STORY

Jerry Brito, executive director of Coin Center | https://fedsoc.org/contributors/jerry-brito

The Tornado Cash sanctions and subsequent criminal prosecutions have sparked debate within the cryptocurrency sector. These events challenge previous beliefs about the boundaries of money transmission licensing, money laundering statutes, and sanctions laws. Additionally, they expose a belief held by some policymakers and law enforcement officials that blockchains must always be transparent.

According to experts, these assumptions are outdated and ineffective. The call for legal certainty in this area is growing louder. The upcoming keynote at Devcon SEA will address how to achieve this clarity.

"Neither assumption has served us well," states an expert on the matter, emphasizing the need for change in current practices.

ORGANIZATIONS IN THIS STORY