The Wasabi and Trezor project teams are developing a protocol for anonymizing hardware wallets against the backdrop of the control of cryptocurrencies by the authorities.
Wasabi announced that it has partnered with Trezor to create the CoinJoin protocol, which will randomly aggregate bitcoin transactions from hardware wallets to hide the source of funds. Representatives of Wasabi Wallet clarifiedthat, using the new application, Trezor Suite users will be able to conduct anonymous transactions in bitcoins:
“You will be able to integrate the CoinJoin protocol into your hardware wallet and Trezor Suite app.”
Karo Zagorus, head of public relations and reputation at zkSNACKs (software developer for Wasabi Wallet), added that negotiations for the partnership began back in 2019 and the result is a “phenomenal achievement.” The partners believe that as government oversight increases, financial transactions could be increasingly used by officials to spy on citizens in the future.
Therefore, the privacy of cryptocurrencies is now more important than ever before. Companies, according to their representatives, are striving to make bitcoin more private. They believe that, contrary to popular belief, bitcoin is not inherently anonymous and easy to trace.
In June, the Dutch Financial Police Department (FIOD), responsible for economic crimes (FACT), launched an investigation into the Tornado Cash mixer. Tornado Cash developer Alexander Pertsev was arrested on suspicion of money laundering through a mixer. According to the latest information, Pertsev will spend three months in prison, at which time an initial hearing of his case in court should take place.
Source: Bits
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