3 ms·

Didn't know the US Treasury had purview over the entire world or Internet.

MacsHeadroom 4y ago
US DoJ claimed jurisdiction over all of Ethereum due to significant concentration of nodes within the US. So, according to them.
joering2 4y ago
Seems pretty obvious at least since Dot Com legal problems started, no?
seanhunter 4y ago
Anti money laundering is a global system with widespread coordination and cooperation between countries, spearheaded and supported by the UN and most UN member states.[1] The OFAC action against tornadocash and users of tornadocash was a direct response to the use of Tornadocash to launder funds to do with North Korea.[2] You can agree or disagree with this, but the US and OFAC have consistently claimed the right (as most countries do) to intervene to enforce sanctions. They do this in conventional financial transactions, so it doesn't seem out of the ordinary at all that they should do so in crypto transactions especially given that North Korea has been active in using crypto to facilitate sanctions busting (eg [3]). The fact that the flashbots crowd have decided to use the ofac list as part of compiling blocks in their relay and their relay has become the most popular shows that for the most part validators don't really care that much about enforcing the ability of people who use tornadocash to transact conveniently on the ethereum network. I expect this will reach an equilibrium where tornado users will have to pay to use certain relays that then have to pay more MEV (essentially bribing the validator) to get their blocks confirmed. [1] https://www.unodc.org/unodc/en/money-laundering/global-programme-against-money-laundering/.html https://www.unodc.org/unodc/en/money-laundering/global-progr... [2] https://home.treasury.gov/news/press-releases/jy0916 https://home.treasury.gov/news/press-releases/jy0916 [3] https://www.bbc.co.uk/news/business-61090064 https://www.bbc.co.uk/news/business-61090064
- miracle2k 4y ago
  GP is correct that OPs post makes no sense. Most validators around the world seem to be under no under legal obligation to exclude TC transactions from the blocks that they mine, and in particular to follow TC sanctions - their local laws don't require it, US law likely doesn't require it, and morally they are free to ignore US laws. Whether those in the US are/will be is clearly uncertain. If OFAC or the DoJ wanted to, they could state their opinion on the matter, and a court could decide if they are right. That this very normal process of a rule-of-law based society is not working in the US (the government embracing vagueness coupled with insane punishments) is an issue.
- twirlock 4y ago
pyinstallwoes 4y ago
KYC ring a bell?

US DoJ claimed jurisdiction over all of Ethereum due to significant concentration of nodes within the US. So, according to them.

joering2 4y ago

Seems pretty obvious at least since Dot Com legal problems started, no?

seanhunter 4y ago

Anti money laundering is a global system with widespread coordination and cooperation between countries, spearheaded and supported by the UN and most UN member states.[1] The OFAC action against tornadocash and users of tornadocash was a direct response to the use of Tornadocash to launder funds to do with North Korea.[2] You can agree or disagree with this, but the US and OFAC have consistently claimed the right (as most countries do) to intervene to enforce sanctions. They do this in conventional financial transactions, so it doesn't seem out of the ordinary at all that they should do so in crypto transactions especially given that North Korea has been active in using crypto to facilitate sanctions busting (eg [3]). The fact that the flashbots crowd have decided to use the ofac list as part of compiling blocks in their relay and their relay has become the most popular shows that for the most part validators don't really care that much about enforcing the ability of people who use tornadocash to transact conveniently on the ethereum network. I expect this will reach an equilibrium where tornado users will have to pay to use certain relays that then have to pay more MEV (essentially bribing the validator) to get their blocks confirmed. [1] https://www.unodc.org/unodc/en/money-laundering/global-programme-against-money-laundering/.html https://www.unodc.org/unodc/en/money-laundering/global-progr... [2] https://home.treasury.gov/news/press-releases/jy0916 https://home.treasury.gov/news/press-releases/jy0916 [3] https://www.bbc.co.uk/news/business-61090064 https://www.bbc.co.uk/news/business-61090064

miracle2k 4y ago
GP is correct that OPs post makes no sense. Most validators around the world seem to be under no under legal obligation to exclude TC transactions from the blocks that they mine, and in particular to follow TC sanctions - their local laws don't require it, US law likely doesn't require it, and morally they are free to ignore US laws. Whether those in the US are/will be is clearly uncertain. If OFAC or the DoJ wanted to, they could state their opinion on the matter, and a court could decide if they are right. That this very normal process of a rule-of-law based society is not working in the US (the government embracing vagueness coupled with insane punishments) is an issue.
twirlock 4y ago

pyinstallwoes 4y ago

KYC ring a bell?