A judge has decided not to release Pertsev on bail in the Tornado Cash case.
A judge in the Netherlands determined on Wednesday that the programmer Alexey Pertsev, who was detained earlier this month for exposing open-source code for the Tornado Cash mechanism, must serve at least an additional ninety days behind bars.
The Fiscal Communication and Independent inquiry Service made an announcement earlier this month that it had placed under arrest Pertsev, 29, for his alleged involvement “in covering up criminal investment activities and supporting embezzlement” via Tornado Cash. The announcement came shortly after the agency had detained Pertsev. Pertsev was one of numerous people that contributed to the fully accessible code that is hosted on Github by Tornado Cash. His arrest provoked uproar throughout the cryptocurrency world, as aficionados contested the legal standing of the Dutch government for detaining someone for deploying code. His arrest sparked indignation throughout the cryptocurrency community. According to the organization, they began their investigation into Tornado Cash in June.
Tornado Cash and the accompanying smart contracts were sanctioned by the Office of Foreign Assets Control of the United States Treasury Department a few days prior to Pertsev’s arrest. This was done because of the popularity of Tornado Cash among cybercrime syndicates such as the Lazarus Group. In its statement, the Treasury Department took a view that was quite similar to that taken by the Dutch authorities. It said that the protocol had “repeatedly failed to establish sufficient safeguards aimed to protect it from laundering funds for harmful cyber actors.” Following the publication of the notification, a number of significant cryptographic methods and organizations, such as Circle, Infura, and Alchemy, instantly complied with the restriction.
At the hearing that took place today in Den Bosch, Pertsev was not granted bail. Because he has not been legally investigated for any crime as of yet, one of the reasons that his detention has created such a response between customers of cryptocurrencies is because he was arrested. On Tuesday, Minnesota Republican Congressman Tom Emmer joined in on the matter by writing a letter to the Treasury Department in which he questioned the agency’s decision to target software. According to Emmer, the sentence constitutes a “deviation from past OFAC precedent.” [Citation needed]
Good Crypto Guide: What a Cryptocurrency Day Trading could look like with the best Portfolio Tracker on 35 Exchanges
Polkadot price still negative; development activity up
Dogecoin Is Set For A Massive Bull Run To The $1 Dream Price As The DOGE-ETH Bridge Approaches ZyCrypto
Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. The information that is displayed on or made available through this website is collected from authoritative sources that we genuinely think to be accurate and reliable; however, Decentral Media, Inc. makes no such interpretation or warranty. The company known as Decentral Media, Inc. is not a financial advisor. We do not offer individualized tax advice in the form of investment advice or any other type of financial advice. The knowledge provided on this website may be updated at any time without prior notification. There is a possibility that some or all of the information presented on this page will become out of date, or that it will already be inadequate or wrong. Any knowledge that is out of date, missing information, or wrong may be updated by us, but we are not bound to do so.
You should never use the information contained on this website as the basis for making an investment decision regarding an initial coin offering (ICO), initial exchange offering (IEO), or any other type of investment, and you should never interpret or otherwise rely on any of the information on this website as investment advice. If you are looking for investment advice on an initial coin offering (ICO), initial exchange offering (IEO), or any other asset class, it is highly recommended that you speak with a certified brokerage firm or another qualified business person. We do not take any kind of payment for studying or reporting on any initial coin offerings (ICOs), actual exchange offerings (IEOs), cryptocurrencies, currencies, smart contracts sales, stocks, or assets.