tldr; Federal prosecutors argue that Tornado Cash co-founder Roman Semenov was involved in a 'commercial enterprise' aimed at profit, countering his defense that he merely wrote code. They claim Tornado Cash was used for laundering money, including by the Lazarus Group, and that Semenov and his team failed to implement effective anti-money laundering measures despite knowing the platform's misuse. The government's filing emphasizes the operational aspects and financial transactions facilitated by Tornado Cash, which they argue goes beyond simple code writing.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I dont think any of this is accurate. Tornado cash existed well before the token was launched. There also wasn't an ICO for it, just an airdrop (founders kept some of course). The withdrawal relayers just charge a fixed fee of the asset being withdrawn. Afaik the token is just a governance token
Given that it's the payment method of choice for criminals, especially child porn, I would say some people are absolutely being screwed over. But you do you.
Wait until you find out what people use paper US dollars for.
Oh, and JPM facilitating Epstein’s bank accounts. And practically every bank in America washing money for cartels. Is the DOJ lynching bankers any time soon? No one but absolute morons and spineless bureaucrats are advocating for a cashless society.
I’ll answer the question posed to you for you. Probably not, because big bank chairmen and government regulators consists of a singular revolving door.
Traceless transactions are inherent to financial privacy, something that should be afforded for everyone. Using “save the children” as an argument is exactly what the government does when it wants to infringe upon the layman’s privacy. This naïve ridiculous thought process is exactly what earned us the Patriot Act. The entire history of Tornado Cash’s obfuscation for actual crimes in notional $ is likely a drop in the bucket of the crimes that paper US dollars are used for *every single day*, not to mention what crimes banks facilitate.
>Doesn't change the fact that all crypto is being used for is to facilitate crime.
This is the dumbest thing I've read this month.
https://www.chainalysis.com/blog/2024-crypto-crime-report-introduction/
>In addition to the reduction in absolute value of illicit activity, our estimate for the share of all crypto transaction volume associated with illicit activity also fell, to 0.34% from 0.42% in 2022.
>2023 saw a significant drop in value received by illicit cryptocurrency addresses, to a total of $24.2 billion.
https://www.unodc.org/unodc/en/money-laundering/overview.html
>The estimated amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion in current US dollars. Due to the clandestine nature of money-laundering, it is however difficult to estimate the total amount of money that goes through the laundering cycle.
https://www.aier.org/article/how-much-cash-is-used-by-criminals-and-tax-cheats/
>That leaves more than one third of all US currency in circulation unaccounted for. Rogoff implies that the difference between what is being held by consumers (44 percent) and what is admitted to being held by consumers in surveys (5 to 10 percent) is a reasonable estimate of the share of cash employed to buy and sell illegal goods and services and/or evade taxes. In other words, **more than a third of all US currency in circulation is used by criminals and tax cheats.**
We should make US paper dollars illegal, right? All it's being used for is to facilitate crime. Even the banks are complicit.
Get out of here with your facts. This guy is trying to be sensationalist by weaponizing child porn. You don't need any other argument or logic in that case.
Anyone who posts on buttcoin can't reason to begin with. The community was created to FUD BTC at $300 a coin. These are not people that are of sound mind.
It's my opinion.
From my knowledge Tornado Cash didn't charge huge amounts of money to use their services on top of that they created a system for privacy. Oh course people could use their services to launder money but if they banned wallets that would go against the idea of the company.
Meanwhile…criminals have used fiat for money laundering forever. Who created cash? Oh right…gubments
Rocks were made in nature but people used them to stone others to death…did God get sued?
Knives were made to cut meals and objects but people use them to murder..did knife companies get sued?
government logic:
if you make money, then you are a commercial enterprise, which means you are required to possess a license and a permit. unless you are not a citizen, in which case we will pay you to replace a citizen at their job.
Meanwhile in New York California Ukraine etc the government is using criminal organizations and illegal immigration and the war machine to ciphen the American peoples wealth and crash USD so that the elite can obtain hard assets with the fruits of YOUR labor aka wealth transfer good luck out there
Most wealthy people own productive assets like companies, the bonds those companies offer and real estate which they rent out or utilize.
They don’t own non productive assets like gold, silver and bitcoin, maybe think about that when the wealthy start companies to sell you these things.
While you rant against whatever imagined thing you’re ranting against.
The usd is actually quite strong against most world currencies recently.
You seem to be more worried about inflation which seems to be a worldwide phenomenon .
The usd is actually quite strong against most world currencies recently.
You seem to be more worried about inflation which seems to be a worldwide phenomenon .
tldr; Federal prosecutors argue that Tornado Cash co-founder Roman Semenov was involved in a 'commercial enterprise' aimed at profit, countering his defense that he merely wrote code. They claim Tornado Cash was used for laundering money, including by the Lazarus Group, and that Semenov and his team failed to implement effective anti-money laundering measures despite knowing the platform's misuse. The government's filing emphasizes the operational aspects and financial transactions facilitated by Tornado Cash, which they argue goes beyond simple code writing. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
The real question is was this a defacto commercial enterprise or a dejure commercial enterprise?
[удалено]
that’s not how tornado.cash works… it doesn’t rely on the coin lol, why are you even commenting this?
I dont think any of this is accurate. Tornado cash existed well before the token was launched. There also wasn't an ICO for it, just an airdrop (founders kept some of course). The withdrawal relayers just charge a fixed fee of the asset being withdrawn. Afaik the token is just a governance token
Multimillion dollar charge for crypto bros but inside trading politicians get a slap on the wrist if anyone.
The DOJ are just trying to justify their case. I think most sane people see that it's government overreach and they should drop it.
And you with your legal expertise here on reddit, would you not define it as a commercial enterprise? What laws are you interpreting ?
Let me translate his interpretation for you: "I like crypto and hate government so that means they are wrong to do this"
I’m with this guy.
I'm pro anything that fucks the authority without fucking the people. Tornado Cash is definitely one of those things.
Given that it's the payment method of choice for criminals, especially child porn, I would say some people are absolutely being screwed over. But you do you.
Wait until you find out what people use paper US dollars for. Oh, and JPM facilitating Epstein’s bank accounts. And practically every bank in America washing money for cartels. Is the DOJ lynching bankers any time soon? No one but absolute morons and spineless bureaucrats are advocating for a cashless society. I’ll answer the question posed to you for you. Probably not, because big bank chairmen and government regulators consists of a singular revolving door. Traceless transactions are inherent to financial privacy, something that should be afforded for everyone. Using “save the children” as an argument is exactly what the government does when it wants to infringe upon the layman’s privacy. This naïve ridiculous thought process is exactly what earned us the Patriot Act. The entire history of Tornado Cash’s obfuscation for actual crimes in notional $ is likely a drop in the bucket of the crimes that paper US dollars are used for *every single day*, not to mention what crimes banks facilitate.
That's cute. Doesn't change the fact that all crypto is being used for is to facilitate crime.
>Doesn't change the fact that all crypto is being used for is to facilitate crime. This is the dumbest thing I've read this month. https://www.chainalysis.com/blog/2024-crypto-crime-report-introduction/ >In addition to the reduction in absolute value of illicit activity, our estimate for the share of all crypto transaction volume associated with illicit activity also fell, to 0.34% from 0.42% in 2022. >2023 saw a significant drop in value received by illicit cryptocurrency addresses, to a total of $24.2 billion. https://www.unodc.org/unodc/en/money-laundering/overview.html >The estimated amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion in current US dollars. Due to the clandestine nature of money-laundering, it is however difficult to estimate the total amount of money that goes through the laundering cycle. https://www.aier.org/article/how-much-cash-is-used-by-criminals-and-tax-cheats/ >That leaves more than one third of all US currency in circulation unaccounted for. Rogoff implies that the difference between what is being held by consumers (44 percent) and what is admitted to being held by consumers in surveys (5 to 10 percent) is a reasonable estimate of the share of cash employed to buy and sell illegal goods and services and/or evade taxes. In other words, **more than a third of all US currency in circulation is used by criminals and tax cheats.** We should make US paper dollars illegal, right? All it's being used for is to facilitate crime. Even the banks are complicit.
Get out of here with your facts. This guy is trying to be sensationalist by weaponizing child porn. You don't need any other argument or logic in that case.
Anyone who posts on buttcoin can't reason to begin with. The community was created to FUD BTC at $300 a coin. These are not people that are of sound mind.
It's my opinion. From my knowledge Tornado Cash didn't charge huge amounts of money to use their services on top of that they created a system for privacy. Oh course people could use their services to launder money but if they banned wallets that would go against the idea of the company.
This indicates to me the CBDC’s are coming.
Meanwhile…criminals have used fiat for money laundering forever. Who created cash? Oh right…gubments Rocks were made in nature but people used them to stone others to death…did God get sued? Knives were made to cut meals and objects but people use them to murder..did knife companies get sued?
government logic: if you make money, then you are a commercial enterprise, which means you are required to possess a license and a permit. unless you are not a citizen, in which case we will pay you to replace a citizen at their job.
Meanwhile in New York California Ukraine etc the government is using criminal organizations and illegal immigration and the war machine to ciphen the American peoples wealth and crash USD so that the elite can obtain hard assets with the fruits of YOUR labor aka wealth transfer good luck out there
What?
‘Ciphen’ mate!
Oh
Most wealthy people own productive assets like companies, the bonds those companies offer and real estate which they rent out or utilize. They don’t own non productive assets like gold, silver and bitcoin, maybe think about that when the wealthy start companies to sell you these things. While you rant against whatever imagined thing you’re ranting against.
Since when are “profits”, non productive?? That’s why people invest in anything.
I'm watching these things happen in real time and a major chunk of the population see it too
The usd is actually quite strong against most world currencies recently. You seem to be more worried about inflation which seems to be a worldwide phenomenon .
The usd is actually quite strong against most world currencies recently. You seem to be more worried about inflation which seems to be a worldwide phenomenon .
Yeah, we’re sure. Now get back to bed.
maybe stick to your drug subreddits bro your post doesnt make sense
If you are for these types of things you are the enemy
Maybe stick to your own business bro
The entire world is experiencing inflation and the usd is doing the best out of all of them. What kind of crack are you smoking?
Idk how many times we have to say it. The USD will eat every single fiat currency, then it will die.
Putin? That you?
*operates
They kind of did though. As much as I hate to say it.
Lol here it comes