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Tornado Cash ban could spell disaster for other privacy protocols — Manta co-founder

The ban of Tornado Cash in the US could have ripple effects across Web3 protocols, particularly ones that offer privacy on the blockchain. There are mounting concerns that recent United States government sanctions against Tornado Cash will become a “slippery slope” for Web3 privacy that could eventually make the entire space “meaningless.”Speaking to Cointelegraph, Shumo Chu, co-founder of privacy protocol Manta Network expressed worry that the strict sanctions against Tornado Cash could have a knock-on effect on every Web3 protocol including ones providing privacy.Chu is one of the co-founders of Polkadot-based Manta Network, a layer-1 privacy protocol that enables private transactions in decentralized finance (DeFi).

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Coin Center Says OFAC’s Tornado Cash Ban ‘Exceeds Statutory Authority,’ Plans to ‘Engage’ With US Watchdog

On August 15, the non-profit that focuses on policy issues facing crypto assets, Coin Center, published a blog post that says the organization is looking at the legality of the recent Tornado Cash sanctions enforced by the US Treasury Department’s Office of Foreign Asset Control (OFAC).

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The Electronic Frontier Foundation Is ‘Deeply Concerned’ About Tornado Cash Ban

Digital privacy advocates and other crypto services say regulators “overstepped” in sanctioning the coin mixer.

Decrypto - 15th Aug 22:08 - Ban, Cash, Foundation, Crypto Services, The, Digital, Coin, CRYPTO SERVICES, Electronic, Tornado Cash, Mixer, TORNADO CASH, Coin Mixer

Coin Center Says It May Challenge Tornado Cash Ban in Court

The non-profit advocacy group says the ban may be unconstitutional.

Decrypto - 15th Aug 19:08 - Ban, Cash, The, Coin, Profit, Center, Group, Tornado Cash, May, TORNADO CASH

Crypto Economy’s Top Privacy Coins Take a Hit After US Government Banned Tornado Cash

Following the US government prohibiting the use of the ethereum mixing service Tornado Cash, the crypto economy’s top privacy coins lost more than 8% in USD value the following evening after the ban announcement.

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Tornado Cash Governance Token TORN Shudders More Than 57% Since the US Government Ban

Amid the crackdown against Tornado Cash, associated addresses, contributing developers, and anyone who uses the mixing platform, the project’s governance token called TORN has shuddered in value.

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Shark Tank Investor Mark Cuban Hit With Class Action Lawsuit for Promoting Voyager to NBA Fans

Shark Tank investor Mark Cuban is facing a class-action suit stemming from his promotion of bankrupt crypto brokerage firm Voyager Digital.

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Mailchimp bans crypto content creators without prior notice

The email marketing service provider temporarily suspended crypto-related accounts due to alleged terms of service violations.

Coin Telegraph - 12th Aug 17:08 - Ban, Marketing, The, Suspended, Accounts, Creators, Provider, Violations, Service, Of, Content, Terms, Email

Mark Cuban Slammed with Lawsuit for Endorsing Bankrupt Voyager Digital

Mark Cuban, the billionaire owner of the basketball team Dallas Mavericks, has been slammed with a class action lawsuit for his role in promoting the now bankrupt crypto platform Voyager Digital.

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Tornado Cash Sees about 80% Deposit Decline following OFAC Sanctions: Report

In just about a week since the US Treasury Department’s Office of Foreign Assets Control placed a ban on the crypto mixer, Tornado Cash, the total deposits on the platform have plummeted remarkably.

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Binance optimistic on Philippines entry despite SEC pushback

Binance’s head of Asia-Pacific Leon Foong said that they are not distracted by the efforts of so-called lobbying bodies to ban Binance.

Coin Telegraph - 10th Aug 16:08 - Binance Philippines, Binance, Ban, The, Of, Head, Optimistic, Exchanges

TORN price sinks 45% after US Treasury sanctions Tornado Cash — rebound ahead?

TORN is near a historically strong support range, eyeing a 75% rebound by September 2022. Tornado Cash (TORN) has lost almost half its market valuation two days after being slapped with sanctions by the US Treasury Department.The department accused Tornado Cash, a crypto mixer platform, of laundering more than $7 billion in cryptocurrencies, including a stash of $455 million allegedly stolen by North Korea-based hackers.Immediate reactions were followed by US-based crypto companies, including Circle and Coinbase.

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USDC-Maker Circle Moves To Ban Tornado Cash Addresses After US Treasury Blacklists the Crypto Mixer

USD Coin (USDC) issuer Circle has blacklisted wallet addresses associated with popular crypto-mixing service Tornado Cash.

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OFAC’s Tornado Cash Ban Causes Github Suspensions and the Blacklisting of Crypto Addresses Holding $437M

On August 8, the ethereum mixing service Tornado Cash, and all the crypto addresses associated with the platform, were officially banned by the US Treasury Department’s Office of Foreign Asset Control (OFAC).

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Crypto Leaders Decry “Tyranny” of Tornado Cash Ban

Privacy advocates took to Twitter to condemn the US government’s ban of the popular coin mixing service.

Decrypto - 9th Aug 00:08 - Ban, Cash, Us, Leaders, The, THE US, Popular, Coin, Service, Of, The US, Tornado Cash

Feds Blacklist Tornado Cash, Ban Ethereum Mixing Tool in US

The US Treasury Department put the Ethereum mixing service on the Specially Designated Nationals list today.

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Kosovo Renews Crypto Mining Ban Amid Rising Energy Prices

The government of Kosovo has adopted measures tailored to maintain energy supply in the coming months, including a ban on cryptocurrency mining.

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Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700

New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday.

Bitcoin.com - 30th Jul 20:07 - Ban, Cash, Israeli, Legislation, Limits, Restrictions, Shekel, Tax Authority, Tax Evasion, Force, Deals, Of

SEC Philippines to investigate Binance over alleged illegal operations

A think tank in the Philippines doesn’t give up on efforts to ban Binance, now claiming that the crypto exchange has been operating illegally in the country. Philippines’ think tank Infrawatch PH continues efforts to ban Binance in the country by asking more regulators to investigate the cryptocurrency exchange over alleged illegal operations.Infrawatch PH on Monday filed a twelve-page complaint calling on the Philippines’ Securities and Exchange Commission (SEC) to crack down on Binance’s activities in the Philippines.According to the think tank, Binance has been operating in the Philippines for several years without approval by appropriate authorities.Terry Ridon, the convenor for Infrawatch PH, claimed that Binance has no office in Manila and only uses “third-party companies that employ Filipinos for its technical and customer support services.” He also referred to former finance secretary Carlos Dominguez who publicly declared last month that Binance had no records with either the SEC or the Bangko Sentral ng Pilipinas (BSP).“The SEC has served the public well by banning unscrupulous online lending services.

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Taiwan Moves to Ban the use of Credit Cards to Acquire Cryptocurrency

Taiwan through its Financial Supervisory Commission (FSC) has moved to ban the use of credit cards in purchasing cryptocurrencies (Read More)

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Minecraft ban ‘hypocritical’ and NFTs are inclusive: Animoca’s Yat Siu

“They did not cite evidence, they didn’t even correctly point out what NFTs are, nor did they talk to NFT Worlds,” noted Animoca Brands co-founder Yat Siu.

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Fortnite Creator Has No Plans To Follow in the Footsteps of Minecraft’s NFT Ban, Says Epic Games CEO

Epic Games is weighing in on the debate about whether mainstream video games should incorporate blockchain-based digital assets.

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Chinese Tech Giant Tencent to Shut Down NFT Platform Amid Trading Restrictions

China’s Tencent Holdings plans to shut down its non-fungible token (NFT) platform Huanhe only a year after its launch.

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California again allows crypto contributions to state, local political campaigns

The state's Fair Political Practices Commission has reversed a 2018 prohibition that arose from transparency and KYC concerns, while seven states still have a ban. Candidates for state and local offices in California will once again be allowed to accept donations in cryptocurrency after a ban was lifted by the state's Fair Political Practices Commission (FPPC) on Thursday.

Coin Telegraph - 22nd Jul 20:07 - Politics, 2018, Ban, The State, Commission, The, States, Kyc, State, On Thursday, Concerns, Prohibition

California Ends Ban on Bitcoin and Other Crypto Donations to Political Campaigns

In sunny California, crypto’s getting into politics.

Decrypto - 22nd Jul 19:07 - Bitcoin, Ban, BItcoin, Politics

Metaverse Developer Epic Games Claims Won't Ban NFTs like Minecraft

Epic Games, Inc., the creator of Metaverse battle royale game Fortnite, says it won't ban NFTs like Minecraft.

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Epic Games 'definitely won't' follow Minecraft NFT ban

Epic Games CEO Tim Sweeney has said that the firm will not ban NFTs, as devs “should be free to decide how to build their games.” Epic Games founder and CEO Tim Sweeney says his firm “definitely won’t” follow Minecraft's developers in banning non-fungible tokens (NFTs).As previously reported, Minecraft developers Mojang Studios banned NFT integrations on July 20 as it believes the speculative aspect of NFTs, along with scarcity and risks of exclusion and scams supposedly associated with NFTs being against the game’s principles.

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