Kraken CEO Calls Sanctions Against Tornado Cash “Unconstitutional”

Kraken CEO Calls Sanctions Against Tornado Cash “Unconstitutional”

CEO Kraken named

Adding the Tornado Cash mixer to the sanctions list may violate the US Constitution and is more of a mechanical reaction to the collapse of Terra. This was stated in an interview with Bloomberg by the CEO of the Kraken cryptocurrency exchange, Jess Powell.

He called the exclusion of the project code from Github “optional”.

“Citizens have a right to financial privacy. Let's see if this will stand the test in court. […] The authorities want to control the existence of the digital currency through such possibly unconstitutional actions. It scares me a little,” — he said.

On August 8, OFAC placed on the sanctions list the website of the cryptocurrency mixer Tornado Cash, as well as the associated 39 Ethereum- and 6 USDC- addresses.

According to the department, since the creation of Tornado Cash in 2019, with its help, attackers have laundered more than $7 billion worth of cryptocurrency. According to Elliptic, it is correct to talk about $1.54 billion.

Recall that members of the decentralized autonomous organization Tornado DAO called on the community to hire a team of lawyers to challenge the blocking of the service in court.

Later, Coin Center, a human rights organization focused on the crypto industry, announced its intention to challenge the restrictions imposed by the US.

On August 20, a rally will be held in Amsterdam in support of Aleksey Pertsev, the developer of the Tornado Cash cryptocurrency mixer, who was arrested in the Netherlands.

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