Take away the uncensorability of crypto, and all you’re left with is Ponzi schemes, dog coins, and drawings of monkeys. (Wait! That’s basically all that exists right now in the space, so ignore that thought.)
Anyway, by sanctioning a piece of software and some addresses associated with it, it may show that uncensorability is just a lie. Sure maybe the code can technically live online forever, but no regulated entity or fiat gateway is going to want to interact with wallets that have a history of using Tornado Cash. It’s true that people could just launch more versions of the same software publicly (clone it, fork it, redeploy it, whatever). But merely creating a cat & mouse game for regulators is not a particularly powerful defense.
‘Enforcement 40’ for 2020
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