Tag: Cash

Bitcoin Cash Price Could Restart Increase To $250 If It Breaks This Resistance

Bitcoin Cash price recovered from the $160 zone against the US Dollar. BCH might aim a fresh rally toward the $240 and $250 levels. Bitcoin cash price is consolidating above the $180 level against the US Dollar. The price is trading below $200 and the 100 simple moving average (4 hours). There is a key rising channel forming with resistance near $200 on the 4-hour chart of the BCH/USD pair (data feed from Kraken). The pair is likely to accelerate higher if it clears $195 and $200. Bitcoin Cash Price…

The Government Cabined Privacy Tech Long Before Tornado Cash

More recently, the government has gained much more insight and powers of preemptive surveillance into our financial lives. For example, with the enactment of the Bank Secrecy Act in 1970, financial institutions have to engage in record-keeping and reporting in order to assist the government in its efforts to prevent money laundering, and as a result, most of the information we provide to our banks can easily be viewed by the government. Source

Tornado Cash developer Roman Storm released on bail, lawyer says

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Roman Storm, the co-founder of the cryptocurrency mixing service Tornado Cash who was arrested on money-laundering and other charges on Aug. 23, was released on bail soon after he was detained by the United States Department of Justice (DOJ), his lawyer said. Storm’s lawyer, Brian Klein, took to X (formerly Twitter) on Aug. 24 to announce that Storm had been released on bail. Klein noted that he still remains “very disappointed” about the fact that the prosecutors charged the developer just because he helped to develop software. He added: “Their…

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…