The second week of the Roman Storm trial witnessed a ruling allowing witnesses to present on the adjustability of Tornado Cash to prevent exploitation for illegal purposes.
Judge Katherine Failla agreed to allow witnesses to testify that Tornado Cash could be restructured to prevent illegal acts, opening a new approach in handling tools that facilitate cryptocurrency transactions.
MAIN CONTENT
The judge approved evidence of the adjustability of Tornado Cash.
Witnesses stated that the software could prevent illegal acts.
The technical and legal issues at the trial were clarified.
What does the second week of the Roman Storm trial signify in the field of cryptocurrency?
The ruling allowing witnesses to present on the regulation of Tornado Cash is a significant step. According to Judge Katherine Failla, this approach lays the groundwork for regulating decentralized tools, limiting the risks of using cryptocurrencies in illegal activities.
This is a clear demonstration from the legal practice of 2024 in the United States, as courts begin to examine more deeply the operational mechanisms and responsibilities of cryptocurrency transaction support platforms.
Proving that Tornado Cash can be adjusted to prevent illegal acts contributes to the transparency of cryptocurrency transactions and enhances cybersecurity.
Judge Katherine Failla, Roman Storm trial, June 2024
How can Tornado Cash be adjusted to prevent illegal acts?
From the expert's perspective, witnesses at the trial explained that Tornado Cash could be improved by integrating filters or limiting functions to monitor unusual transactions, thereby reducing money laundering or supporting illegal activities.
This aligns with the trend of increasing the legal responsibility of Smart Contract developers as well as DeFi products. The addition of control mechanisms helps balance privacy and financial safety.
Policies and practices implemented in the industry
The global cryptocurrency industry is currently moving towards compliance standards (KYC/AML) without sacrificing decentralization. Similar solutions have been implemented in Staking and DeFi models, helping to mitigate risks for investors and the community.
Technical and policy improvements are key to ensuring that decentralized platforms operate effectively within the modern legal framework.
Dr. Emily Tran, Blockchain and DeFi Policy Expert, 2024
What is the impact of the Roman Storm trial on global cryptocurrency regulation?
The trial sets a precedent in applying laws to tools that facilitate cryptocurrency transactions. Industry leaders believe that transparency and technical control are key factors in balancing innovation and risk management.
The acceptance of technical evidence regarding the adjustability of Tornado Cash is a step forward in international efforts to develop a safe and sustainable cryptocurrency market.
Frequently Asked Questions
1. What is Tornado Cash and its role in cryptocurrency?
Tornado Cash is a software that supports cryptocurrency transactions with security features, helping to anonymize transactions but also being prone to abuse in illegal activities.
2. Why is the trial focusing on the software's adjustability?
Because modifying the software could minimize the risks of exploiting cryptocurrencies in illegal activities, aligning with modern legal requirements.
3. What role does Judge Katherine Failla play?
The judge decided to allow technical evidence to promote transparency and control in cryptocurrency-related trials.
4. What technical improvements can be applied to Tornado Cash?
This could include monitoring unusual transactions or blocking blacklisted addresses, helping to prevent money laundering.
5. What is the impact of this trial on the cryptocurrency community?
Contributing to the development of technology and law to ensure safety, mitigate risks, and increase reliability for the market.
Source: https://tintucbitcoin.com/tornado-cash-duoc-phep-thay-doi-ma-nguon/
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