Tornado Cash BANNED By OFAC... Is this the War on Crypto?
On Monday, the U.S. Treasury Department made a smart contract illegal.
They can do that??
David walks you through the news, with multiple interviews from Jerry Brito and Collins Belton, two experts in the matter.
Let us know how you like the format!
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Topics Covered:
0:00 Intro
Opening Shot: https://twitter.com/RyanSAdams/status/1556743328774995971?s=20&t=OzfqFxxolrjhwZICo4KV6w
Ripple Effects: https://twitter.com/collins_belton/thread/1556650759994970113
Neutral Tool: https://twitter.com/jerrybrito/status/1556667240711438337?s=20&t=avKH9mQ1_3KDno2P2THs7Q
4:00 What is OFAC?
Overview: https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information
Press Release: https://home.treasury.gov/news/press-releases/jy0916
Sec Blinken: https://twitter.com/SecBlinken/status/1556677862345801728?s=20&t=QwqpNxU9CYKPz8LhBATSFQ
7:44 What is Tornado Cash?
Breakdown: https://blog.chainalysis.com/wp-content/uploads/2022/08/tornado-pie-1536x1034.png
Treasury Misleading: https://twitter.com/USTreasury/status/1556655337431785472?s=20&t=Jw5y0Xr4fHSelCzfhWvYlQ
Alex Svanevik: https://twitter.com/ASvanevik/status/1556983834809614337?s=20&t=OCDr5P9jRweG9RVYdmmxKQ
10:20 Using Tornado Cash
Neeraj Meme: https://twitter.com/NeerajKA/status/1556707552251060225?s=20&t=UNffL4gM4hBsaXDEZ0gJ_w
Clean ETH2 Addresses: https://twitter.com/econoar/status/1556775153153048582?s=20&t=63-Nwh2Lv7u8tTC4E-CVUw
More Use Cases: https://twitter.com/RezaJafery/status/1556751888896258049?s=20&t=9rJ2buSh4PCTPMlNKezAyw
12:15 Banning Smart Contracts
Coin Center Announcement: https://www.coincenter.org/u-s-treasury-sanction-of-privacy-tools-places-sweeping-restrictions-on-all-americans/
17:08 Ripple Effects
Circle: https://www.theblock.co/post/162172/circle-freezes-usdc-funds-in-tornado-cashs-us-treasury-sanctioned-wallets
Github: https://twitter.com/bantg/status/1556721709931175937?s=20&t=LSCI_12-Giipv727Y52qUg
Infura & Alchemy: https://twitter.com/0xdev0/status/1556933551073153024
20:55 A Ban on Who?
Cobie & Gainzy: https://twitter.com/cobie/status/1556647650212155394?s=20&t=F8nhR0zX4PkbGGOl1JmBCQ
Depositing .1 ETH: https://twitter.com/josephdelong/status/1557011056572129280?s=20&t=F1JszlO7Zm0lm4EGsgBrNg
23:14 A Chilling Effect
Attacking Free Speech: https://twitter.com/matthew_d_green/status/1556764387796340736?s=20&t=w8K19sEWj_AVS372HOjHTw
25:47 Decentralization
Priorities: https://twitter.com/econoar/status/1556825245381578753?s=20&t=63-Nwh2Lv7u8tTC4E-CVUw
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
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