HomeTradingCoin BureauTornado Cash Sanctioned! The END of Crypto Privacy!?

Tornado Cash Sanctioned! The END of Crypto Privacy!?

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⛓️ 🔗 Useful Links 🔗 ⛓️

Treasury Disclosure: https://home.treasury.gov/news/press-releases/jy0916
Dusting Attacks: https://twitter.com/depression2019/status/1556748494622208000
Dev Arrested: https://techcrunch.com/2022/08/12/suspected-tornado-cash-developer-arrested-in-amsterdam/
Infura Blocking: https://twitter.com/0xdev0/status/1556933551073153024
Vitalik Sent: https://decrypt.co/107075/ethereum-cofounder-used-blacklisted-tornado-cash-donate-ukraine
Crypto Wars: https://www.eff.org/document/crypto-wars-governments-working-undermine-encryption
Bernstein vs. DOJ: https://www.eff.org/cases/bernstein-v-us-dept-justice
Coincentre Response: https://www.coincenter.org/analysis-what-is-and-what-is-not-a-sanctionable-entity-in-the-tornado-cash-case/
Chainalysis Analysis: https://blog.chainalysis.com/reports/tornado-cash-ofac-designation-sanctions/
Lazarus Use Tornado Cash: https://markets.businessinsider.com/news/currencies/north-korea-launder-treasury-ethereum-us-billion-sanctions-tornado-cash-2022-8

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– TIMESTAMPS –
0:00 Intro
0:40 What Happened?
4:08 Unprecedented
8:33 Privacy Debate
12:21 Impact on Privacy
15:48 Final Thoughts

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Crypto #Privacy #Ethereum #ETH

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24 COMMENTS

  1. Hope you guys enjoyed this breakdown. It's a really important topic and I am sure that the implications will reverberate for some time. What do you think about the sanctions? Should we sacrifice privacy for institutional adoption? would love to get your thoughts! Don't forget that you can follow me on my socials for all the content that you are missing here https://guy.coinbureau.com/socials/. You also have to subscribe to my clips channel which has shorter market updates and weekly livestreams https://www.youtube.com/channel/UCR93yACeNzxMSk6Y1cHM2pw

  2. Tornado cash lets you put in any adress as the adress reciving the cash, which means you can blacklist other peoples adresses and delete all their money. It's possible to blacklist anyone you want.

  3. You CANNOT apply punishment retroactively !
    The U.S. Constitution FORBIDS 'ex post facto' laws, which change the legal consequences of an act committed before the law was passed.
    Put another way; laws created after the crimes are committed are unconstitutional, and are therefore unenforceable.
    That’s why you can’t go to jail for having eaten apples in 2021 if they become outlawed in 2022.
    Someone will take the fascist control freaks to court for the retroactively applied damage that has been inflicted upon their property.

    ETH addresses DAMAGED by sanctions from today onwards, for using a public service LAST MONTH/YEAR at a time when the public service was deemed by all to be LEGAL and wasn't signaled by ANY despotic law making outfit as being potentially problematic/risky,

  4. I guess sanctioning the US dollar and arresting the government because more criminals use that than any other currency is just wishful thinking. If it wasn't for double standards governments would have no standards at all.

  5. Re:' the upcoming issues the sanctions will face and create, highlighted in the vid;
    is this simply a move to protect the mountain of our dollars that investment firms skim from our financial accounts each week by deterring us regular people (non 'elites') from engaging in our own, skim free, investments, using transparent technologies and instruments that we prefer, can more readily understand as well as far more easily monitor, control and alter?

    A move primarily aimed at protecting the extremely lucrative, unaccountable and hopelessly opaque/rigged status quo that has long been enjoyed by a prominent section of the 'elite'… to our outrageously expensive cost ?

  6. People think that the government can prevent crypto dumps, that's the only reason they think it needs "regulations" because they lost their ass and want to punish others for their own mistakes? Mabey

  7. My guess: Ethereum, after moving to PoS, will become industry standard for smart contracts, where few big players will own 51%, under FED's supervision. There must be no criminal activity on this chain and all wallets must have KYC. Criminals, enemy states etc, will be forced to use other chains but not Ethereum. Tornado Cash will be forked in other chains but legal smart contracts by big players will take place on a fully controlled and centralized Ethereum.

  8. Crypto has 3 things working against it. First and foremost, as soon as it's considered a threat to a Central Bank (CB), it will be dismissed quite easily. Ya know, for some odd reason when a CB loses sellingil its worthless bonds, they get pissed. 2) it solely relies on the Greater Fool Theory. Finally, because projects, platforms etc are ran by greedy ass humans, there will continue to be rug pulls, paid social media pumpers (99% of crypto Youtubers), all sorts of fraud to include fraud methods not yet even invented yet.

  9. Crypto is anti-fragile. Every time they go on the attack I get excited by the upgrades that will rise. Just preferably don't cut the internet yet – mesh networks and the like are too immature.

  10. Tbh i would have love to have mixer that used kyc of some sort. It sounds very contradicting, but point is just to reduce illicit activities.

    If i were to donate for ukraine, using such mixer, people would only know i am using a mixer that potentially donates for ukraine.

  11. This P 0 S will never tell you that all crypto and every other market is controlled by the tribe whose name rhymes with the word clues.

  12. This is certainly a warning signal for other projects…they should come together and fight the case within the laws …If you are neutral in situations of injustice, you have chosen the side of the oppressor. If an elephant has its foot on the tail of a mouse and you say that you are neutral, the mouse will not appreciate your neutrality.

  13. The whole thing is clearly an attempt by OFAC (Treasury) to cripple crypto & DeFi by creating an enormous amount of FUD. The arrest by the Dutch FIOD was a concerted effort probably coordinated in advance to spice it up a bit more. They know there is absolutely no legal (or practical) basis for this sanction but they also know that it will take a year or more for parties to successfully fight this in court. Meanwhile they already have succeeded in scaring the likes of USDC, Uniswap, Aave, dydx, Balancer, etc. to just spinelessly ban addresses, and many more could still follow. If everybody would realize that it would be hard to actually enforce this unlawful sanction if nobody takes it serious (which it isn't), then there would be no damage done. It the authorities abuse their power and make fun of their own laws, people should revolt, not act like tame sheep.

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