Procesul OFAC detaliază preocupările privind sancțiunile industriei cripto

As legal action picks up, the crypto industry is increasingly uncertain about potential fallout from recent sanctions against mixing service TornadoCash. 

In august, TornadoCash — allegedly used to launder stolen funds linked to major hacks — was added to the Office of Foreign Asset Control’s Specially Designated Nationals (SDN) list, along with 45 associated Ethereum wallet addresses. 

Complying to the sanctions and parsing out what this means for the future of the crypto industry, especially with regards to privacy, has been a challenge, industry members said. 

Around 92% of the crypto ecosystem has exposure to Tornado Cash, Liat Shetret, director of global policy and regulation at Elliptic, reported during a Blockworks’ webinar Joi. 

“What that’s meant on the ground for crypto businesses is that their rate of false positives skyrocketed because once the sanctions dropped on Tornado Cash, then they were really immediately obligated to not have any kind of exposure to Tornado Cash,” Shetret said. “And yet that remains a little bit gray, depending on OFAC language and how folks interpret it.”

The Treasury alleges that North Korea-sponsored hacking collective Grupul Lazarus, which in March stole over $620 million in cryptocurrency from the Ronin Bridge protocol, attempted to conceal the origin of the funds with Tornado Cash. Blockchain analytics firm Chainalysis agrees. 

“OFAC’s designation of Tornado Cash is a crucial moment in the fight against cryptocurrency-based crime,” a Chainalysis raportează said. “For one thing, it’s especially timely: More cryptocurrency is being stolen than ever, and in almost every hack we’ve observed this year, Tornado Cash has received at least some of the stolen funds.”

Regardless of the users employing Tornado Cash for legal reasons, lawmakers generally have a hard time justifying any use of the technology, according to lobbyists. 

“Unfortunately, the national security hawks in Congress way out number the privacy hawks, and by a very large portion,” Ron Hammond, director of government relations at the Blockchain Association, said during the webinar. “Capitol Hill will always be more about taking more privacy rights slowly away in the name of national security.” 

Cryptocurrency investors and users with ether locked in Tornado Cash moved forward with a lawsuit against OFAC Thursday, arguing that the regulatory authority overstepped its power by sanctioning the software. The legal effort is fiind finanțat de Coinbase, care se luptă bătălii de reglementare de sine stătătoare, pe măsură ce incertitudinea în jurul clasificării token-ului continuă. 

Procesul, depus în instanța federală din districtul de vest al Texasului, include șase reclamanți: angajații Coinbase Tyler Almeida și Nate Welch, co-fondatorul Prysmatic Labs Preston Van Loon, inginerul GridPlus Kevin Vitale, susținătorul Ethereum și investitorul înger Alex Fisher și fostul Inginerul Amazon Joseph Van Loon. 

“To sanction a software is a very unique and interesting piece, and we’ve seen that the aftermath of this OFAC now has been delivered with a suit against them…so we’re gonna see a legal battle,” Shetret said. “I’m really quite desperate about this topic because it’s huge. It’s a massive issue and I think it’s really caused a lot of confusion.”

Nu este prima dată când OFAC sancționează un mixer de criptomonede. În mai, oficialii au vizat Blender.io, un serviciu centralizat Lazarus Group ar fi folosit și el pentru a ascunde fonduri furate. Dar Tornado Cash este diferit, spun unii experți. 

“Blender.io was designated back in May of this year, but it’s different and in a pretty meaningful way, which is that was a centralized custodial service and [Tornado Cash]…is just code,” Michael Mosier, former deputy chief in the Department of Justice’s money laundering and asset recovery section, said during a Spații Twitter discussion last month.

“Just because Tornado Cash is now sanctioned, all that activity, it may be lulled for a day or two, but the [mixing] activity has spiked back up again on a variety of other platforms,” Shetret said. “The activity has not stopped, it’s just moved.”

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