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Re:Arrest of suspected developer of Tornado Cash by Sebb767 on Friday August 12, 2022 @08:26AM (#32437466)
> Anonymizing spending on it’s own is not a crime.

Money laundering laws very much disagree with this.

Re:Arrest of suspected developer of Tornado Cash by agotterer on Friday August 12, 2022 @09:13AM (#32438061)
I’m not familiar with the money laundering laws. But do they state that you can’t buy something anonymously and without an audit trail? Because spending legally obtained cash seems anonymous to me. Is anonymizing your digital spend with legally obtained capital that different?
Re:Arrest of suspected developer of Tornado Cash by Sebb767 on Friday August 12, 2022 @10:40AM (#32439372)
I can't speak for the US, but in Germany, transactions between countries over 10k€ must be reported to the Bundesbank. There are similar limits for inner-country transactions with businesses, especially financial ones. I assume the USA has similar rules. So small cash transaction are fine, but as soon as larger sums are involved it's going to be very problematic.

Since crypto currencies, nearly by definition, don't care about country borders and the mixers don't trace the amount put in by each user, they almost certainly allow you to circumvent money laundering registration requirements. It's even worse if they frame the mixer as financial institution, in which case it directly violates its reporting requirements.

Re:Arrest of suspected developer of Tornado Cash by aaaaaaaaata on Friday August 12, 2022 @11:06AM (#32439720)
> It's even worse if they frame the mixer as financial institution

Where do they?

Re:Arrest of suspected developer of Tornado Cash by agotterer on Friday August 12, 2022 @10:53AM (#32439530)
These are fair points and I believe there are similar laws in the US.
Re:Arrest of suspected developer of Tornado Cash by Ferrotin on Friday August 12, 2022 @11:23AM (#32439940)
Money laundering laws in the U.S. require some other crime to be involved.