Cryptocurrency News

Cardano’s Charles Hoskinson Addresses Tornado Cash Sanctions

Cardano’s Charles Hoskinson is addressing the Tornado Cash sanctions. Check out what he has to say below.

Hoskinson addresses Tornado Cash sanctions

Cardano founder Charles Hoskinson recently said that the US government banning Tornado Cash sets a dangerous regulatory precedent.

Just to refresh your memory, earlier this month, the U.S. Treasury Department banned Americans from using the crypto mixing service.

It’s important to note the fact that they cited the national security concerns as the agency claims the protocol has been used to launder $7 billion worth of crypto assets since 2019.

In a new video update, Hoskinson made sure to explain that sanctioning code because it’s being misused could be a violation of free speech.

“The protocol in developer understanding that we have as developers is that when we write code, it’s an expression. As long as we don’t get involved in the running and use of that code for purposes, we’re just writing it, it’s like writing a book.”

He continued and said the following:

“So for example, you could write a book saying ‘Here’s how you make cyanide’ [or] ‘Here’s how you build a bomb,’ these types of things, and for the most part, that’s just words. You’re not telling people to go do this.”

He also explained that in a free society, we allow people to do these types of things, “and it’s deeply uncomfortable when they start saying no.”

Hoskinson also continued and added that regulators are overreaching by sanctioning Tornado Cash – the reason is the fact that its developer never participated in its use or told others how to use it.

Cardano in the news

Not too long ago, we were addressing the fact that new reports revealed that the blockchain company behind Cardano (ADA), announced a collab with a non-fungible token (NFT) ecosystem to drive NFT adoption.

NMKR claims to be “the number one NFT minting and payment infrastructure on Cardano. It has built a Minting API for a new NFT ecosystem, according to a new press release from the company.”

Related posts
Cryptocurrency NewsGlobal Crypto NewsLatest News

Cardano's Charles Hoskinson Addresses Elon Musk's Twitter Takeover

Cryptocurrency NewsGlobal Crypto NewsLatest News

Cardano (ADA) Dev Builds Innovative Method for Evaluating Blockchain Decentralization

Blockchain NewsCryptocurrency NewsGlobal Crypto NewsLatest News

Charles Hoskinson Reveals That Cardano Developer Works on New Privacy-Focused Altcoin and Blockchain

Bitcoin NewsCryptocurrency NewsGlobal Crypto NewsLatest News

Bitcoin And Cardano New Price Predictions Are Out

>
Send this to a friend