Peter Van Valkenburgh, Director of Research at Coin Center, joined us for an indepth look at how OFAC operates, why he believes this santioning represents an overreach, what's next for Tornado Cash, and what this means for the rest of the blockchain ecosystem.
On August 8, 2022, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, citing allegations it helped North Korea's Lazarus hacker group launder millions of dollars worth of crypto proceeds stolen from various crypto projects over the past few years. Coin Center believe that OFAC has overstepped its legal authority by adding certain Tornado Cash smart contract addresses to the Specially Designated Nationals And Blocked Persons (SDN) List, potentially violating US Americans' constitutional rights to due process and free speech.
Peter Van Valkenburgh, Director of Research at Coin Center, joined us for an in-depth look at how OFAC operates, why he believes this sanctioning represents an overreach, what's next for Tornado Cash, and what this means for the rest of the blockchain ecosystem.
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This episode is hosted by Friederike Ernst. Show notes and listening options: epicenter.tv/458