> Crypto asks for regulatory clarity and then complains when it starts
This take reminds me of https://dilbert.com/strip/1995-03-17 - sure, lack of regulatory clarity is bad, but when it gets "clarified" in the worst way possible, that's worse.
What do you mean we can't do the thing we couldn't do in your system, so we invented another system to do, that we thought you'd never get around to noticing and regulating?
> “Today, Treasury is sanctioning Tornado Cash, a virtual currency mixer that launders the proceeds of cybercrimes, including those committed against victims in the United States,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Despite public assurances otherwise, Tornado Cash has repeatedly failed to impose effective controls designed to stop it from laundering funds for malicious cyber actors on a regular basis and without basic measures to address its risks. Treasury will continue to aggressively pursue actions against mixers that launder virtual currency for criminals and those who assist them.”
> Tornado Cash was not designed to protect hackers but to protect all people, just as bulletproof vests were invented to protect all in danger, not specifically robbers.
5 comments
[ 0.20 ms ] story [ 29.4 ms ] threadMaybe if blockchain wasn't so fundamentally flawed from the start, you wouldn't need things like tornado?
This take reminds me of https://dilbert.com/strip/1995-03-17 - sure, lack of regulatory clarity is bad, but when it gets "clarified" in the worst way possible, that's worse.
Cryptocurrency in a nutshell.
treasury says:
> “Today, Treasury is sanctioning Tornado Cash, a virtual currency mixer that launders the proceeds of cybercrimes, including those committed against victims in the United States,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Despite public assurances otherwise, Tornado Cash has repeatedly failed to impose effective controls designed to stop it from laundering funds for malicious cyber actors on a regular basis and without basic measures to address its risks. Treasury will continue to aggressively pursue actions against mixers that launder virtual currency for criminals and those who assist them.”
https://home.treasury.gov/news/press-releases/jy0916
Article only defends with:
> Tornado Cash was not designed to protect hackers but to protect all people, just as bulletproof vests were invented to protect all in danger, not specifically robbers.
Shitty sophistry.