US Treasury Cracks Down on Crypto Mixer

    Photo: Unsplash

    The Facts

    • The US Justice Department on Wednesday cracked down on the founders of virtual currency mixer Tornado Cash.

    • Co-founders Roman Semenov and Roman Storm were charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money-transmitting business.


    The Spin

    Pro-establishment narrative

    This is a clear-cut case of money laundering, as the co-founders of Tornado Cash knew their privacy service was enabling hackers and other criminals to execute scams undercover. Even after they were advised to implement software to prevent criminality, they chose to continue allowing untraceable, anonymous transactions.

    Establishment-critical narrative

    All the accused did was develop software, and now the government is bending its interpretation of the law to arrest innocent people. There’s more to this story that will come out once it gets to trial and the government will have to answer for its overreach.


    Establishment split

    CRITICAL

    PRO

    More neutral establishment stance articles

    Sign up to our daily newsletter