Tag: Cash

Tornado Cash indictment fails to show ‘clear violation’ of certain laws: Coin Center

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Crypto advocacy group Coin Center has criticized the latest indictment of two former Tornado Cash developers, arguing that the facts offered don’t show any clear violations of money-transmitting-related offenses. Roman Storm and Roman Semenov were indicted by the United States Office of Foreign Asset Control on Aug. 23 for conspiring to operate an unlicensed money-transmitting business, among other charges. In a follow-up opinion piece, Coin Center research director Peter Van Valkenburgh argues that the claims in the indictment appear to run counter to guidance from the United States  Financial Crimes…

Tornado Cash co-founders charged with money laundering, sanctions violations

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The United States Treasury’s Office of Foreign Assets Control (OFAC) added Roman Semenov, one of the co-founders of the Tornado Cash cryptocurrency “mixer,” to its list of Specially Designated Nationals and Blocked Persons (SDN) on Aug. 23. Another co-founder, Roman Storm, was arrested by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation division in Washington state the same day. Semenov and Storm are being charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money-transmitting business in an…

Tornado Cash Devs Arrested on Money Laundering, Sanctions Violation Grounds Over Alleged $1B Moved

“While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes. Today’s indictment is a reminder that money laundering through cryptocurrency transactions violates the law, and those who engage in such laundering will face prosecution,” he said. Source AllegedarrestedCashDevsGroundsLaunderingMoneyMovedSanctionsTornadoViolation CryptoX Portal

Tornado Cash Devs Charged With Helping Hackers Launder $1B, Including Infamous North Korean Attacks

The core blockchain-based software, or “smart contracts,” that power Tornado Cash also remain possible to use on Ethereum. However, using these smart contracts is technically illegal in the U.S., and key blockchain infrastructure providers like Infura and Alchemy – used by many of the apps that interface with the Ethereum blockchain – have censored access to the Tornado Cash app in accordance with the sanctions. Source

Privacy Mixer Tornado Cash Is an Entity, Judge Says

“It is undisputed that Tornado Cash uses smart contracts to provide a layer of privacy for its users by allowing them to deposit crypto assets in one wallet and then withdraw assets from a different wallet. Plaintiffs claim that as of 2020, the smart contracts are immutable, autonomous software applications with no custodial operator that automatically check the inputs necessary for a valid transaction, allowing withdrawals without human intervention,” he noted. “However, the government states that these smart contracts are created by Tornado Cash developers and then approved and deployed…

How to buy Bitcoin with Cash app

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Cash App, a multipurpose financial app, offers various capabilities, including money transfers, investment options and cryptocurrency purchases. Serving as a comprehensive financial tool, Cash App provides users the capacity to handle transactions, invest in stocks, and explore digital currencies like Bitcoin (BTC). The app aims to streamline financial tasks and assist users in navigating the modern financial landscape. What is Cash App? Cash App, created by Block Inc (formerly Square Inc), is a peer-to-peer (P2P) mobile payment service offering stored value services resembling deposit accounts. This innovative platform empowers users…

Judge favors Treasury in Coinbase-backed lawsuit over Tornado Cash sanctions

A district court judge sided with the U.S. Treasury Department in a lawsuit that involves Coinbase and sanctions imposed on crypto mixer Tornado Cash. The decision came as a blow to six plaintiffs who had challenged the agency’s authority in imposing the sanctions on Tornado Cash last year. Tornado Cash is a software, plaintiffs say According to an Aug. 17 filing, district court Judge Robert Pitman granted a summary judgment in favor of the Treasury Department, thereby rejecting the motion brought forward by plaintiffs Joseph Van Loon, Tyler Almeida, Alexander…

Tornado Cash lawsuit judge sides with US Treasury in motions for summary judgment

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A federal judge in Texas has sided with the United States Department of the Treasury by granting a motion for summary judgment in a lawsuit concerning Tornado Cash brought by six individuals backed by crypto exchange Coinbase. In an Aug. 17 filing in the U.S. District Court for the Western District of Texas, Judge Robert Pitman denied a motion filed in April by plaintiffs Joseph Van Loon, Tyler Almeida, Alexander Fisher, Preston Van Loon, Kevin Vitale and Nate Welch requesting partial summary judgment in a case over controversial mixer Tornado…

Tether discontinues USDT support on Bitcoin, Kusama, and Bitcoin Cash

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tether has announced modifications to its USDT issuance strategy, discontinuing support on the Bitcoin, Kusama, and Bitcoin Cash while indicating potential future collaborations. Tether, the issuer of the stablecoin USDT, has announced significant changes to its support on various blockchains. After an extensive evaluation focusing on security, customer service, regulatory compliance, and overall oversight, Tether halted support for USDT on the Bitcoin(BTC), Kusama(KSM), and Bitcoin Cash(BCH) platforms. The company cited insufficient traction as the primary reason,…