Tornado Cash Ban Sets Extremely Dangerous Regulatory Precedent, Says Cardano Founder

Charles Hoskinson, the founder of Cardano, mentioned that the decision of authorities within the United States to prohibit Tornado Cash is paving the way toward a perilous regulatory precedent. Formerly this month, the Treasury Department of the United States prohibited the citizens from utilizing the services related to crypto mixing, while referring to the hazards of dealing with national security. The agency asserted that since 2019 crypto assets of $7B worth have been laundered via the protocol.

Charles Hoskinson Highlights Concerns over Tornado Cash Ban

In a unique video update, Hoskinson has addressed nearly 315,000 subscribers on YouTube and stated that the misuse of the sanctioning code could cause the infringement of the freedom of speech. Hoskinson spoke on the behalf of the developers and disclosed that the code written by them is an expression and till the time it is not operated and utilized in any activity it is considered to be a written account.

Cardano founder added that a book in which the method to create a bomb is written does not tell the readers to go and build the bomb. It is the users who are to decide about going in a positive or negative direction. He moved on to say that presently we live in a society that provides everyone the freedom to do what they like but such prohibitions directly attack the respective freedom.

Hoskinson Refers to Vagueness of Legal Structure

Hoskinson revealed that the regulatory bodies are attempting to subjugate the market by banning Tornado Cash because its coder did not take part in the protocol’s utilization. He pointed out that the developer even did not say to anyone to use it.

In the words of Cardano’s founder, the regulatory bodies are straightly targeting the software developers, deeming them responsible for the misuse of the software by other people without considering if they have control over that. According to Hoskinson, this is a tremendously threatening precedent.

Apart from that, he expressed that – in a more broad example – if the kernel developers of Linux develop an operating system’s kernel the respective kernel can probably be accessed by North Korea which could develop an exclusive operating system out of it to operate an ICBM (Intercontinental Ballistic Missile). In that case, the developers do not have anything to do with the North Korean’s negative actions.

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