Coinbase’s lawsuit claims the sanctions themselves are a violation of the First Amendment, which establishes the right of free speech. In the landmark case of 1996, Bernstein v. the Department of Justice (DOJ), it was established that computer code should be considered speech, and the right to free speech is protected by the U.S. Constitution. Source
One of South Africa’s largest financial services groups, Old Mutual, has reportedly been appointed manager of the ZARP stablecoin project’s cash reserves. Founders of the stablecoin are hopeful that the appointment of one of the country’s oldest financial services companies will help bolster confidence in the digital currency. Enhancing Credibility of the Stablecoin The South African financial services giant Old Mutual has reportedly been designated the manager of the cash reserves of the local currency-backed stablecoin — the zarp. By appointing Old Mutual, one of the oldest wealth management companies…
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“U.S. persons should be prepared to provide, at a minimum, all relevant information regarding these transactions with Tornado Cash, including the wallet addresses for the remitter and beneficiary, transaction hashes, the date and time of the transaction(s), as well as the amount(s) of virtual currency. OFAC would have a favorable licensing policy towards such applications, provided that the transaction did not involve other sanctionable conduct,” the FAQs said. Source
According to the National Bank of Ethiopia’s directive, which became effective on September 5, persons entering and departing the country in possession of local currency are now subject to new restrictions. Individuals may not hold local currency whose value exceeds $57.00 or 3,000 birr. The directive also sets conditions and circumstances under which Ethiopian residents and non-residents may possess and use foreign currency. Converting All Foreign Currency at Authorized Forex Bureaus The Ethiopian central bank recently issued a directive which sets a limit on the amount of the birr that…
On September 8, the crypto security and smart contract auditing firm Certik revealed that 500,000 DAI was sent through the Tornado Cash mixing platform after the funds were stolen in August 2021. The digital assets originally stemmed from the DAO Maker breach that saw the loss of more than $7 million in ERC20 tokens and stablecoins. Address Directly Connected to DAO Maker Hack Sends 500,000 DAI Through Tornado Cash Despite the U.S. government banning the Ethereum-based mixing application Tornado Cash, the application is still used regularly. On Thursday, the crypto…
Brian Armstrong's Finest Hour: Backing Tornado Cash Suit Against Treasury Source
CryptoX – Cryptocurrency Analysis and News Portal $500,000 worth of the Dai stablecoin, stolen last year, is being sent through the notorious mixer. Original Source The post Cash from 2021 DAO Maker Crypto Hack Being Mixed Through Tornado Cash appeared first on CryptoX. CryptoX Portal
According to a new lawsuit filed in the U.S. District Court, Western District of Texas. On Thursday, six users of the Ethereum blockchain and cryptocurrency mixer Tornado Cash sued the U.S. Department of Treasury, alleging that its recent designation of 44 Tornado Cash smart contract addresses to the Specially Designated Nationals (SDN) list of the Office of Foreign Asset Control (OFAC) is “not in accordance with law.” Since Aug. 8, U.S. persons and entities have been prohibited from interacting with the sanctioned Tornado Cash smart contract addresses, blockchain or business-wise,…
The Treasury’s sanctions watchdog, OFAC, exceeded its authority in blacklisting smart contract wallets, plaintiffs allege in a new suit. Source