Late last month the Treasury Department published a proposed regulation to define when a person in crypto qualifies as a “broker” under the tax code and therefore must collect personal...
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New Tornado Cash indictments seem to run counter to FinCEN guidance
Roman Storm and Roman Semenov have been indicted for, among other charges, conspiracy to operate an unlicensed money transmitting business. We don't have all the facts but at first blush...
When does a sanction become a seizure? Lessons from the KindHearts case
While researching case law for our Tornado Cash challenge I came across a very interesting holding, KindHearts v. Geithner, that deals with the intersection of the Office of Foreign Assets...
The CANSEE Act is a messy, arbitrary, and unconstitutional approach to DeFi
Yesterday Senators Reed, Rounds, Warner, and Romney introduced the Crypto-Asset National Security Enhancement (CANSEE) Act in the Senate. This bill comes as a surprise as it was apparently developed without...
Yesterday the Treasury Department released a “DeFi Illicit Finance Risk Assessment.” While the report does not announce any new or changed policy, and correctly acknowledges the much larger illicit finance...
The RESTRICT Act, introduced by Senators Warner and Thune, aims to block or disrupt transactions and financial holdings involving foreign adversaries that pose risks to national security. Although the primary...
The bipartisan Digital Asset Anti-Money Laundering Act, introduced today by Sens. Warren and Marshall, is the most direct attack on the personal freedom and privacy of cryptocurrency users and developers...
Coin Center is suing OFAC over its Tornado Cash sanction
Privacy is not the default on Ethereum. If you do your job on Ethereum, your co-workers can see your salary. If you donate to a political cause on Ethereum, the...
U.C. Berkeley’s Decentralized Finance MOOC
Peter Van Valkenburgh gave a lecture on privacy and surveillance law for U.C. Berkeley’s Decentralized Finance MOOC with a focus on the constitutionality of 6050I reporting and the OFAC sanctions against Tornado...
How does Tornado Cash actually work?
Today Coin Center published a detailed factual explanation of how Tornado Cash works. We worked with several world-class Solidity experts who generously donated their time to look directly at the...