Blockchain Affiliation, a nonprofit group devoted to crypto advocacy, is submitting a second amicus temporary in assist of the banned crypto mixer Twister Money.
In a brand new announcement, the group says it’s submitting an amicus temporary in favor of Coin Middle’s lawsuit towards the Workplace of Overseas Asset Management (OFAC), arguing that the regulatory physique banning a instrument anybody can use runs counter to US values.
As said by Kristin Smith, The Blockchain Affiliation’s chief govt,
“It’s vital to acknowledge that Twister Money is solely a instrument – punishing the instrument itself just because it may be utilized by anybody, together with dangerous actors, runs opposite to the values this nation was based upon.
Blockchain Affiliation stands with Coin Middle, advocating for the accountable and lawful use of blockchain know-how. Regulatory actions ought to solely be focused at dangerous actors who abuse this instrument for unlawful functions.”
Coin Middle, a nonprofit policy-focused crypto analysis agency, first filed the lawsuit towards OFAC in October 2022, saying that the regulatory company had “exceeded its statutory authority” when it sanctioned the crypto mixer in August 2022 and that Twister Money had no management over the way it was utilized.
In April, the Blockchain Affiliation additionally filed an amicus temporary in favor of Twister Money in OFAC’s lawsuit towards the digital asset mixer, saying it was “merely a instrument” and that authorities ought to as a substitute give attention to prosecuting people who use it in a bootleg method.
“The problem at hand is easy: 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, quite than sanctioning or banning the instruments themselves. The identical method ought to maintain true for OFAC’s method to Twister Money.”
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