Re:U.S. Treasury sanctions virtual currency mixer Tornado Cash
by salawat on Monday August 08, 2022 @11:29PM
(#32393983)
This is a structural practice our government tends to favor. They can regulate larger actors and keep them in line more easily in order to limit the options for misbehavior downstream.
To employ in the U.S., you have to report what you paid people to the tax authorities. The employer can employ and do commerce on condition of compliance and the good grace of government recognition. Individuals, in the end can do whatever they want as long as the paper trail is managed by the economic machine.
Re:U.S. Treasury sanctions virtual currency mixer Tornado Cash
by birdyrooster on Monday August 08, 2022 @01:00PM
(#32388056)
I am sure they see Coinbase as being part of a gigantic racketeering operation where the whales game government and finance to facilitate black markets.
I’m finding it a little difficult to put into words succinctly but as an example, they’re still going to after e.g. Coinbase: the big guys. They’re not gonna track down every party interacting with any mixer and prosecute because that’s hugely resource intensive. But now when they go after e.g. Coinbase, they have a new tool in their belt. (IMO IANAL.)