Tag: Cash

TempleDAO Exploiter Moves Ether Worth Over $2.5M to Tornado Cash

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Coin Center Sues US Treasury Over Tornado Cash Ban — Lawsuit Says Government’s Action ‘Was Unlawful’ – Bitcoin News

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The non-profit that focuses on policy issues facing cryptocurrencies, Coin Center, has filed a lawsuit against the Treasury department, the secretary of the Treasury Janet Yellen, and the Office of Foreign Assets Control’s (OFAC) director Andrea Gacki. Coin Center’s court filing says that the government’s sanctioning of Tornado Cash exceeds the Treasury’s statutory authority. The Coin Center lawsuit insists that Americans have a right to privacy and a right to protect their property, as Tornado Cash can be used for these benefits in a legitimate fashion. Coin Center’s Lawsuit Insists…

Coin Center files lawsuit against US Treasury over Tornado Cash sanctions

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The advocacy group alleged OFAC “exceeded their statutory authority” in sanctioning Tornado Cash because the mixer was a “privacy tool beyond the control of anyone.” United States-based crypto policy advocacy group Coin Center has followed through with its intention to take the Treasury Department’s Office of Foreign Asset Control, or OFAC, to court over sanctioning cryptocurrency mixer Tornado Cash. In an Oct. 12 filing in the U.S. District Court for the Northern District of Florida, lawyers for Coin Center as well as crypto investor David Hoffman, an anonymous human-rights advocate…

Crypto Think Tank Coin Center Sues US Treasury Over Tornado Cash Sanctions

“An order effectively requiring Defendants to decriminalize use of the 20 Tornado Cash addresses would allow Plaintiffs to conduct their legitimate activities with some measure of anonymity, use their preferred software tool without fear of penalties, and engage in important expressive associations,” the suit said. “Judicial relief would also serve the public interest by averting harm to Tornado Cash users who are United States persons, to Ethereum as a freedom and privacy enhancing technology, and to the important sector of the economy that depends on Ethereum.” Source

Web3 must bridge back into Web2 for real cash flows — Checkout.com VP

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“The seamless payments infrastructure and user experience derived from Web2 will be the backbone of Web3’s success,” said Max Rothman. The real economic utility of Web3 — a broad term that refers to some future iteration of the internet — can only be realized by utilizing existing payment onramps and offramps, according to Max Rothman, vice president of crypto and digital assets at Checkout.com.  In an interview with Cointelegraph, Rothman explained that companies operating in Web2 and Web3 are largely sioled from one another, which means they cannot access each…

Decentralized App BCH Bull Prepares for Launch, Platform Allows Users to Long or Hedge Bitcoin Cash Against a Myriad of Tradeable Assets – Defi Bitcoin News

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Just recently the developers behind the Bitcoin Cash-centric project Anyhedge released the alpha version of the Anyhedge Whitelabel and since then, 284 smart contracts were created onchain, and more than $32,900 in funds hedged using the alpha protocol. Furthermore, this month, General Protocols, the engineers behind Anyhedge, revealed the team plans to launch a decentralized application (dapp) on the Bitcoin Cash blockchain that allows anyone to long bitcoin cash against a myriad of tradeable assets. General Protocols to Launch a Decentralized Application That Allows Users to Hedge or Long Bitcoin…

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How to Deal With Tornado Cash (Without Using Sanctions)

Coin Center, a Washington, D.C., nonprofit that advocates for decentralized computing technologies, argued that OFAC had overstepped its authority. According to its rules, OFAC can only target entities that are individuals or companies. But Tornado Cash smart contracts are neither; they cannot alter their behavior, nor lodge an appeal with OFAC to have the sanctions revoked, a key element in any sanctioning process. Source