Congressman Tom Emmer Pens Letter to Treasury Secretary Yellen on ‘Unprecedented’ Tornado Cash Sanctions

US Congressman Tom Emmer of Minnesota is in search of readability on the Workplace of International Property Management’s (OFAC) current banning of crypto mixer Twister Money.

In a letter addressed to Treasury Secretary Janet Yellen, Emmer says that the federal government’s unprecedented sanction of Twister Money is exclusive in that it was imposed towards a “privacy-enabling” code.

“It’s our understanding that Twister Money is solely the anonymizing software program deployed on the blockchain, which manages any tokens despatched to it by Ethereum customers.”

He says that the sanctions are the primary imposed on one thing apart from an individual or entity, which poses a problem for the reason that affected blockchain addresses should not have the power to enchantment and communicate for themselves.

“A number of of the Twister Money Ethereum addresses usually are not, to our data, a person, or entity. Moderately, they’re sensible contract addresses whose operation is decided completely by open-source software program discovered on the Ethereum blockchain.

In different phrases, the addresses don’t seem like an individual, entity, or property (all correctly the goal of sanctions); they’re as an alternative, extensively distributed technological instruments and they don’t seem to be beneath the management of any entity or pure individuals.”

The legislator penned the letter after OFAC banned People from utilizing Twister Money claiming it was a nationwide safety risk for its ties to cybercriminals, together with the North Korea-backed hacking group Lazarus.

The protocol’s suspected developer was additionally arrested within the Netherlands for allegedly laundering cash.

The banning prompted crypto advocacy group Coin Middle to contemplate difficult OFAC’s determination in courtroom saying that the company exceeded its statutory authority in sanctioning the protocol.

Emmer says that he shares OFAC’s concern on the illicit use of Twister Money, however notes that law-abiding folks additionally use the service to anonymize authorized transactions.

“The rising adoption of decentralized expertise will definitely elevate new challenges for OFAC. Nonetheless, expertise is impartial and the expectation of privateness is regular.”

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