Hey Guys,
Last week, we had the news that the Treasury would be placing sanctions on Tornado cash. This was a pretty unprecedented action given that it was the first time that we have effectively had sanctions placed on a piece of open-source software – essentially, restrictions on lines of code.
Since that time though, we have learned just how much of an impact these sanctions have had on the crypto space. One of the developers was arrested, dApps blocked the smart contract, infrastructure providers blocked RPC calls & stablecoin issuers blacklisted funds.
There were also several individuals who discovered that their addresses could not interact with dApps as they were hit with a dusting attack.
But, the implications of these sanctions are so much broader than just these examples. It calls into question how “decentralised” defi really is and whether financial privacy can be achieved in tandem with more institutional adoption. There are also the questions around the constitutionality of these sanctions given that they could be breaching the first amendment.
There is so much to this that I have decided to do a dedicated video for you guys. This was a really interesting one to shoot so I hope you guys enjoy it!
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⛓️ 🔗 Useful Links 🔗
⛓️ Treasury Disclosure: https://home.treasury.gov/news/press-…
Dusting Attacks: https://twitter.com/depression2019/st…
Dev Arrested: https://techcrunch.com/2022/08/12/sus…
Infura Blocking: https://twitter.com/0xdev0/status/155…
Vitalik Sent: https://decrypt.co/107075/ethereum-co…
Crypto Wars: https://www.eff.org/document/crypto-w…
Bernstein vs. DOJ: https://www.eff.org/cases/bernstein-v…
Coincentre Response: https://www.coincenter.org/analysis-w…
Chainalysis Analysis: https://blog.chainalysis.com/reports/…
Lazarus Use Tornado Cash: https://markets.businessinsider.com/n…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
