Tornado Cash sanctions will ultimately undermine the US and strengthen crypto
Cointelegraph
Published Aug 17, 2022 02:06PM ET
Updated Aug 17, 2022 05:20PM ET
The United States government’s sanctioning of the open-source code that makes up the Tornado Cash privacy protocol may be shocking, but it’s not surprising. America has been tightening its grip over the global financial system for decades ostensibly to cut down on bad behavior but also to project power abroad.
Economic sanctions, like the ones enforced by the aptly named Office of Foreign Assets Control, are a powerful weapon. The agency’s website states that it “enforces economic and trade sanctions based on U.S. foreign policy and national security goals.” It does this to fight drug dealers, terrorists, and “other threats to the national security, foreign policy or economy of the United States.”
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Written By: Cointelegraph
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