U.S. Congressman Tom Emmer has referred to as on the Treasury Division to make clear points regarding the sanction towards Twister Money.
In a letter despatched to the Treasury on August 23, Emmer famous that sanctions have historically solely utilized to people or entities, not open-source software program like Twister Money.
I despatched a letter to Treasury Secretary Yellen concerning the unprecedented sanctioning of Twister Money. The rising adoption of decentralized know-how will definitely increase new challenges for OFAC. Nonetheless, know-how is impartial and the expectation of privateness is regular.⬇️ pic.twitter.com/0aN4a4A6tb
— Tom Emmer (@RepTomEmmer) August 23, 2022
Emmer urged the Treasury to clarify what know-how on the blockchain is sanctionable. He famous that Twister Money isn’t topic to Financial institution Secrecy Acts, on condition that it’s an anonymizing software program and never a supplier of blending companies.
In protection of customers affected by the sanction, Emmer requested the Treasury to make clear how customers can entry funds locked within the mixer. He additionally demanded readability on how sensible contracts can enchantment instances since they aren’t authorized entities or people.
Trying on the dusting assault incidence, Emmer requested what the destiny of customers who obtained unsolicited funds could be.
Emmer reiterated that particular person privateness needs to be a precedence regardless of the necessity for decentralized know-how regulation.
The rising adoption of decentralized know-how will definitely increase new challenges for OFAC. Nonetheless, know-how is impartial, and the expectation of privateness is regular.
In protection of privateness
The crypto group has thrown its weight in assist of the Congressman for standing up for privateness. Bankless Founder Ryan Sean Adams tweeted:
Thanks for standing up for privateness @RepTomEmmer.
There was a time when the expectation of privateness was the norm not the exception.
We have to restore this freedom in America.
— RYAN SΞAN ADAMS – rsa.eth 🦇🔊 (@RyanSAdams) August 23, 2022
In an earlier interview with CryptoSlate, CommerceBlock CEO Nicholas Gregory slammed the U.S. Treasury for sanctions towards Twister Money. He said that the transfer “makes little sense” since malicious actors can use different mixer protocols to hide their cybercrimes.