A nonprofit group devoted to crypto advocacy is submitting an amicus transient in assist of the banned crypto mixer Twister Money.
In a brand new announcement, the Blockchain Affiliation says that it has filed an amicus transient within the Workplace of International Property Management’s (OFAC) lawsuit in opposition to Twister Money, saying that the token mixer is “merely a instrument.”
In keeping with the group, it doesn’t make sense to ban Twister Money outright and authorities ought to as an alternative give attention to prosecuting people who use it in an unlawful method, similar to some other instrument.
“At the moment, Blockchain Affiliation filed an amicus transient in assist of Twister Money in OFAC’s case in opposition to the autonomous, decentralized software program program.
The problem at hand is straightforward: Twister Money is solely a instrument, and OFAC’s try and sanction a self-executing, privacy-protecting piece of software program is a grave overreach that can have sweeping downstream penalties for People’ privateness.
As with different instruments, we prosecute the people who use these instruments for illicit exercise, moderately than sanctioning or banning the instruments themselves. The identical strategy ought to maintain true for OFAC’s strategy to Twister Money.”
The group says that if OFAC is profitable in its case in opposition to the crypto mixer, it might significantly empower the regulatory company in addition to have far-reaching implications for the US crypto business and the constitutional rights of residents.
“If OFAC succeeds of their motion in opposition to these strains of code, there will likely be severe impacts on the US digital belongings business, jeopardizing law-abiding People’ monetary privateness, threatening their constitutional rights, and significantly increasing OFAC’s energy.”
Earlier this month, Paul Grewal, Coinbase’s chief authorized officer, mentioned he’s optimistic that the ban on Twister Money will likely be overturned as a result of “highly effective” authorized arguments being made by the plaintiffs.
Twister Money, which swimming pools collectively funds from differing sources, mixes them up after which redistributes them to extend anonymity, was initially sanctioned by OFAC in August 2022 as a result of it was deemed to be a menace to nationwide safety.
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