Recent developments in the Tornado Cash and Samourai Wallet cases raise concerns about the U.S. becoming the crypto capital regarding privacy and peer-to-peer transactions. Peter Van Valkenburgh argues that legislation like the CLARITY Act may not sufficiently protect developers of noncustodial technology. Current money transmission charges against Tornado Cash and Samourai Wallet developers contradict prior FinCEN guidance. The proposed Blockchain Regulatory Certainty Act (BRCA) is seen as a necessary measure to prevent similar prosecutions in the future, affirming the need for America to embrace individual liberty in crypto use.
"Operating a CoinJoin server is kind of like running Craigslist. People meet on Craigslist and do things like exchange value, but Craigslist isn't exchanging value - they're just connecting people who are going to exchange value themselves."
"We should be serious about making America the crypto capital of the world for peer-to-peer transactions and individual liberty."
"The outcomes of the Tornado Cash and Samourai Wallet cases have put Americans' ability to use bitcoin and crypto anonymously at risk."
"The best way to stop prosecutions like the Tornado Cash prosecution from happening again is the passage of the BRCA."
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