Samourai
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That news isn’t bullish for Samourai Wallet but here’s a more bullish, crypto-resilient take:
Even under pressure, crypto keeps building.
Samourai Wallet founders may face prison, but the tech lives on.
Decentralization doesn't stop for courtrooms.
Bullish on permissionless innovation. 🔥
#Crypto #Bitcoin #Samourai #PrivacyMatters #Bullish
Even under pressure, crypto keeps building.
Samourai Wallet founders may face prison, but the tech lives on.
Decentralization doesn't stop for courtrooms.
Bullish on permissionless innovation. 🔥
#Crypto #Bitcoin #Samourai #PrivacyMatters #Bullish
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Samourai Wallet is sued, crypto community responds: "Just writing software, not a criminal"
Two developers of Samourai Wallet – a mixing tool $BTC – are facing allegations of operating an illegal money transfer service. However, many organizations supporting cryptocurrency have spoken out demanding the case be dismissed, arguing that this is a serious misunderstanding of the nature of non-custodial software.
Organizations like Blockchain Association, Coin Center, DeFi Education Fund, and Bitcoin Policy Institute argue that: #Samourai is merely a software tool that helps users protect their privacy, without directly controlling or holding anyone's assets. They cite guidance from #FinCEN in 2019, asserting that an entity is only considered a "money transmitter" when it has full control over assets – something that Samourai does not have.
Although these organizations were denied the opportunity to submit official supporting documents to the court, they emphasized that "financial privacy is a fundamental human right" and that prosecuting developers simply for writing software is a dangerous precedent.
The case recalls the controversy surrounding Tornado Cash in 2022, when the US banned the mixing platform $ETH over money laundering suspicions. To date, that ban has been overturned by the court – further fueling the crypto community's hope that Samourai will be treated more fairly.
⚠️ Risk warning: Investing in and using crypto tools always carries legal and financial risks. Please research thoroughly before participating.
Two developers of Samourai Wallet – a mixing tool $BTC – are facing allegations of operating an illegal money transfer service. However, many organizations supporting cryptocurrency have spoken out demanding the case be dismissed, arguing that this is a serious misunderstanding of the nature of non-custodial software.
Organizations like Blockchain Association, Coin Center, DeFi Education Fund, and Bitcoin Policy Institute argue that: #Samourai is merely a software tool that helps users protect their privacy, without directly controlling or holding anyone's assets. They cite guidance from #FinCEN in 2019, asserting that an entity is only considered a "money transmitter" when it has full control over assets – something that Samourai does not have.
Although these organizations were denied the opportunity to submit official supporting documents to the court, they emphasized that "financial privacy is a fundamental human right" and that prosecuting developers simply for writing software is a dangerous precedent.
The case recalls the controversy surrounding Tornado Cash in 2022, when the US banned the mixing platform $ETH over money laundering suspicions. To date, that ban has been overturned by the court – further fueling the crypto community's hope that Samourai will be treated more fairly.
⚠️ Risk warning: Investing in and using crypto tools always carries legal and financial risks. Please research thoroughly before participating.
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