In response to the arrest of the founders of Samourai Wallet, CryptoQuant CEO Ki Yoon Joo announced the legality of digital asset mixing services.
The US DOJ has arrested pioneers in #Bitcoin privacy technology.
Privacy stands as a core value of Bitcoin. Mixing itself is not a crime. Even crypto exchanges use mixing to safeguard user privacy.
It's like punishing the inventor of the knife instead of the one who uses it. https://t.co/S7qcqtqCJh
— Ki Young Ju (@ki_young_ju) April 25, 2024
Joo noted that even crypto exchanges use mixing to protect users. The CEO of CryptoQuant compared claims against cryptomixer developers to “persecuting the inventor of a knife.”
The detention of the founders of Samourai Wallet has caused widespread concern in the crypto community. Participants fear that this could signal another attempt by the US government to put pressure on the industry.
Former employee NSA And CIA Edward Snowden called the arrests an attack on personal freedoms.
The Department of “Justice” has once again criminalized the developers of an app that restores financial privacy. The way to fix this it to make money private by default. Privacy must never be “exceptional,” or they will make it criminal.
— Edward Snowden (@Snowden) April 24, 2024
According to cryptanalyst Ryan Adams, the authorities are sending a hint that “no transaction will be confidential.” According to the charges, the founders of Samourai Wallet face up to 25 years in prison, he added.
The US is sending a message.
No transaction will be private.https://t.co/8ToyHQD7nw
— RYAN SΞAN ADAMS — rsa.eth 🦄 (@RyanSAdams) April 24, 2024
In recent years, regulators have begun to tighten their rhetoric regarding cryptomixers. In particular, FinCEN plans to declare them “money laundering centers” that threaten US national security.
In March 2024, a jury in the United States found Russian Roman Sterlingov involved in managing the cryptomixer Bitcoin Fog and laundering more than $400 million. He faces up to 20 years in prison.
The co-founders of Tornado Cash, Roman Storm and Roman Semenov, were also charged with money laundering and violation of sanctions. The first was released on bail. The second remained free, but was placed under restrictions.
Since January 2024, Storm and Pertsev have been raising $1.5 million for lawyers. For these purposes, the JusticeDAO Foundation was created. The initiative was supported by many members of the crypto community.
Source: Cryptocurrency
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