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by polygamous_bat
1248 days ago
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I think you are misunderstanding the Treasury's position. You are free to run the code on your own computer on a VM for a made up Blockchain however many times you want, no problem. You can even run a permissioned version of it yourself, where you and your 40 permissioned friends mix their transactions for privacy, and everyone knows (through, let's say, off chain trust) that none of them are committing crimes, I personally don't think that would be a problem either. However, if you are running the same code on a public Blockchain and mixing your transactions with literal criminals [0], well, that is a crime now. "Running a computer program" is too vague, and legality of it depends on the context. [0] since everything on this Blockchain is public, you can easily see proceeds of cybercrime coming into tornado. It's not really a point of contention. |
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Even if you 100% knew that all of the money was legal mixing is money transmission according to the government which means you need to register in every state you operate, register with the federal government, and have a compliance program, or you will get up to 5 years in prison. Hawaladars/various ethnic equivalents especially post 9/11 have learned the rules on money transmission the hard way, even when they literally "know their customers" in a much more real way than banks do. Here's an example where I'm from https://apnews.com/article/yemen-us-news-ap-top-news-mi-stat... - fortunately these guys were spared prison though.