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That would be an extraordinary stretch of the sanctions law, comparable to sanctioning any business that uses cash, by virtue of its effect of expanding the ano
by CryptoPunk 4y ago
That would be an extraordinary stretch of the sanctions law, comparable to sanctioning any business that uses cash, by virtue of its effect of expanding the anonymity set that uses cash and thereby assisting sanctioned entities in concealing their transactions.
- nivertech 4y agoThe comparison with cash is flawed for 2 reasons: 1. Unlike so called "cryptocurrencies" you can't easily do cross-border transactions with large amount of cash. 2. Not sure about US and its states and territories, but in many countries in the world cash transactions are limited to relatively low amounts. And these amounts are shrinking every year.
- CryptoPunk 4y agoWith respect to 1, the principle of increasing the anonymity set, and thereby facilitating criminal concealment of funds, is the same, when using cash, and it is on this principle that the parent comment suggested companies that use privacy smart contracts could be sanctioned. 2. is a different issue. Yes the War on Cash is real, and it is extremely dangerous.
- vmception 4y agoAdding to this, I would challenge a smart contract sanction on 1st (free expression, leveraging citizens united for money as speech), 4th (regarding privacy, and the equivalent privacy of other transaction methods), 5th and 14th amendment grounds (both forms of equal treatment in comparison to other transaction methods) Maybe an article or two as well