The entire Tornado Cash verdict is completely insane and will turn the legality of building any privacy service on its head.🧵
1.Open-source devs building non-custodial tools can be held responsible for criminal activity when crim. actors cannot be stopped or deanonymized👇
2. TC cannot be classified as a communications service despite the fact that that's exactly what TC is: a tool to communicate transactions between users. It does not matter whether TC took custody of funds. 👇
3. Building an unstoppable privacy system is laid out to suggest criminal intent.👇
4. TC dev was aware of money laundering activity in TC, laid out as intentional participation in the act. 👇
5. Devs are fully responsible when their open source code is used for criminal activity through the development of source code and UIs. 👇
As predicted, the verdict references FATF, which has no regulatory powers and operates with zero democratic oversight. therage.co/meet-fatf-the-…
The assumption that "criminal intent lies with the individuals and not the tools they use" seems void with the TC verdict. This verdict is a full on declaration of war against privacy service in existence.
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