Cryptocurrency supporter Congressman Tom Emmer is waiting for answers from Treasury Secretary Janet Yellen about the agency’s latest Tornado Cash sanctions.
The Minnesota Republican targeted the Treasury’s Office of Foreign Assets Control (OFAC) and its blacklisting of Tornado Cash as a sanctioned entity in early August in a letter he posted on Twitter.
The U.S. Treasury announced that Tornado Cash, an agitator that helps hide details of transactions with cryptocurrencies, has laundered more than $7 billion in virtual currencies since its inception in 2019.
As it is known, after the Tornado Cash incident, many “decentralized” crypto money platforms were intervened and many accounts were frozen. After this incident, many cryptocurrency supporters began to question whether decentralized exchanges were truly decentralized.
Crypto Supporter Senator Thinks Sanctioned Addresses Can’t Defend Themselves
Along with a number of questions that demanded clarification of the agency’s actions, Emmer wrote, “These sanctions are, however, unique in that they are applied against code that ‘ensures privacy’, not against an individual or entity.”
Emmer’s concerns echoed many of the points raised by the cryptocurrency industry following the first-ever sanctions targeting a smart contract address. Emmer is co-chair of the Congressional Blockchain Caucus and has a long history as an advocate for the crypto industry.
“How does OFAC plan to continue the appeals process for those addresses that do not have the ability to appeal the sanction to OFAC?” Emmer asked. she asked. According to Emmer, these addresses are unaffiliated smart contracts and cannot defend themselves.
Emmer continued his words against the institutions that implemented the sanctions:
“Tornado Cash back-end Ethereum OFAC believes who or what entity is responsible for enforcing controls on Tornado Cash Blockchain contracts, given that it will operate unchanged as an anonymizing technology as long as its network continues to operate.”
*Not investment advice.
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