Crypto community split on Treasury’s Tornado Cash sanctions
“I look at [the sanctions] as a way to prevent some of those incentives for people to commit these types of crimes against enterprises,” said Bryan Daugherty, a certified cryptocurrency investigator and the public policy director at the Bitcoin Association.
Daugherty added that crypto mixers are often used by criminal groups to obfuscate illicit funds and doesn’t see why non-criminal users would want to run the risk of using the same platform other than being anonymous.
By using mixers, “you will run the risk of contaminating your legally-gained coins with somebody else’s illegally-gained coins,” Daugherty said.
He added that it’s important to distinguish between privacy and anonymity in this context.
He argued that investors should be able to operate with privacy on the blockchain where the public cannot identify, trace or access any users’ financial information, except for law enforcement if it has probable cause to do so.
In the case of anonymity, the identity is completely hidden, which makes it harder even for the government to trace the transaction, Daugherty said.
“You’re just incentivizing crime by being able to create anonymity,” he added.
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