The Ethereum Foundation provides legal support for the founder of Tornado Cash with a $500,000 donation.
The co-director of the Ethereum Foundation affirms the protection of privacy and emphasizes that coding is not a crime. The lawsuit related to Tornado Cash is drawing attention as the founder was convicted of transmitting unlicensed money.
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The Ethereum Foundation donated $500,000 to support legal costs for Roman Storm.
Roman Storm was convicted of transmitting unlicensed money, but the money laundering charges were mitigated.
Emphasizing that privacy is a standard and coding is not a crime.
How does the Ethereum Foundation provide legal support for the founder of Tornado Cash?
The Ethereum Foundation decided to donate an additional $500,000 to support legal costs for Roman Storm, the founder of Tornado Cash. The announcement was confirmed by Hsiao-Wei Wang – co-executive director of the organization, on social media on 8/8/2024.
This is a step to protect privacy in the cryptocurrency space and emphasizes the Ethereum Foundation's stance on lawsuits related to security technology and programming freedom.
Why is the Ethereum Foundation particularly concerned about Roman Storm's case?
The case involving Roman Storm reflects the conflict between legal control and privacy protection in the cryptocurrency space. The founder of Tornado Cash was convicted of transmitting unlicensed money, but the jury did not agree with the money laundering and sanction violation charges.
Hsiao-Wei Wang affirmed:
"Privacy is a standard, and coding is not a crime."
Hsiao-Wei Wang, co-director of the Ethereum Foundation, 8/8/2024
This argument reflects the Ethereum Foundation's view that tools and code contributing to privacy should not be seen as signs of criminality.
What is the significance of the lawsuit for the cryptocurrency community?
The lawsuit highlights the legal challenges faced by privacy-protecting applications like Tornado Cash. This is an important signal for the community to consider the balance between law and the right to protect personal information in cryptocurrency development.
The outcome of the case may impact how future projects approach security solutions and could affect the entire Layer 1 ecosystem and decentralized applications.
Are there similar examples or cases?
Previously, many security projects and individuals in the cryptocurrency space have faced similar allegations regarding operating unlicensed wallets or trading tools.
The Ethereum Foundation's legal support for Roman Storm sets an important precedent, promoting awareness of programming freedom as well as the role of technology in protecting personal information and financial transactions.
Frequently Asked Questions
Why does the Ethereum Foundation provide legal support for Roman Storm?
The Ethereum Foundation defends privacy and the freedom to code, considering it a standard in the cryptocurrency space.
What was Roman Storm convicted of in this case?
He was convicted of transmitting unlicensed money, but was not charged with money laundering or violating sanctions.
What role does privacy play in cryptocurrency?
Privacy is an essential factor in protecting users and building trust in blockchain technology development.
What does the Ethereum Foundation's funding mean?
The funding helps ensure legal rights and promotes awareness of privacy in the cryptocurrency development community.
How does this lawsuit affect other cryptocurrency projects?
It warns of the legal risks associated with security and could influence the design and operation of future cryptocurrency projects.
Source: https://tintucbitcoin.com/ethereum-foundation-ho-tro-phap-ly-roman-storm/
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