Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-08-25 10:45:13

Tether Holds Firm On Decision Not To Freeze Tornado Cash Addresses

Tether (USDT), a provider of stablecoins pegged to the dollar, declared on Wednesday that it wouldn’t freeze smart contract addresses. At the same time, the American government’s decision to outlaw Tornado Cash is still being discussed in the cryptocurrency world. According to a recent blog post by Tether on the matter, the firm is awaiting guidance from law enforcement. Tether Holds Firm on Decision Not To Freeze Tornado Cash Addresses, Awaits Law Enforcement Instruction https://t.co/zpsI9lKLlf — Tether (@Tether_to) August 24, 2022 Tornado Cash Ban The Ethereum-based platform Tornado Cash was outlawed on August 8 by the Office of Foreign Asset Control (OFAC), a financial watchdog inside the U.S. Treasury Department. Since then, disagreement has surrounded OFAC’s efforts to impose sanctions. Of course, OFAC’s sanctions had a knock-on effect and other businesses, including the Centre consortium of Circle Financial and Coinbase, Github, and Discord, took action. For instance, Tornado Cash’s Discord channel was removed, developers were suspended from Github, and reports claimed that Centre blocked dozens of Ethereum addresses and frozen 75,000 USDC. Tether noted that it might be “extremely disruptive” and “reckless” to arbitrarily freeze wallet or smart contract addresses. It might warn potential suspects of an upcoming police investigation, result in liquidating or abandoning assets, and impede the collection of more evidence. T...

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.