Kraken CEOof Jesse Powell, Tornado Cash He said the sanctions were unconstitutional. In addition, he emphasized that he thought this event came as a reflex after the collapse of Terra.
Powell described the US government’s ban on Tornado Cash, which serves as a mixer for crypto transactions, as “unconstitutional”. Tornado Cash sanction began to be implemented not only in the USA, but also in many companies and projects.
US Treasury Department Considers $7 Billion Laundered With Tornado Cash
US Department of the Treasury , said that action has been taken in recent weeks because it believes criminals have used Tornado Cash to launder more than $7 billion worth of cryptocurrencies since its release in 2019. Although the total amount of funds passed through Tornado Cash is $ 7 billion, the money thought to be laundered is said to be $ 1.5 billion. Blockchain detectives ellipticAccording to , only $ 1.5 billion of the $ 7 billion in transaction volume made through Tornado Cash is unfair gain.
Powell described the Tornado Cash ban as a sudden response to the May collapse of the Terra ecosystem, and said that removing Tornado’s source code from Github, where it was originally hosted, was also pretty unnecessary.
