BREAKDOWN: Are the US Sanctions on Tornado the Beginning of a War on Privacy?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 8 August 2022
⏱️ 19 minutes
🧾️ Download transcript
Summary
The U.S. Treasury Department’s OFAC has added Tornado Cash and all associated addresses to the sanctions list.
This episode is sponsored by Nexo.io, Chainalysis, FTX US and NEAR.
In breaking news, the U.S. Treasury Department’s Office of Foreign Assets Control announced on Monday that it was adding Tornado Cash and associated addresses to its sanctions list. It is seemingly the first time that an entire technology protocol, rather than just an individual or group of individuals, has been added to the list. NLW explores the discussion in the crypto community as well as the legal and technological implications.
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Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com.
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NEAR is a simple, revolutionary Web3 platform for decentralized apps, created by developers for developers. More than 700 projects are now building on NEAR’s fast, secure and infinitely scalable protocol, from DeFi apps to play-and-earn games, NFT marketplaces and more. Start your developer journey now by visiting NEAR at near.org.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore, aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Nuthawut Somsuk/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.2 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:14.8 | The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk. |
| 0:22.8 | What's going on, guys? It is Monday, August 8th, and today we are asking the question if new |
| 0:28.3 | U.S. sanctions on tornado cash are the beginning of a war on privacy. Before we get into that, |
| 0:34.6 | however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dig deeper into the conversation, |
| 0:41.4 | come join us on the Breakers Discord. |
| 0:43.6 | You can find a link in the show notes or go to bit.ly slash breakdown pod. |
| 0:47.9 | Also, a disclosure as always. |
| 0:49.7 | In addition to them being a sponsor of the show, I also work with FTX. And finally, this week, I am thrilled |
| 0:54.8 | to welcome NEAR as an additional sponsor of the show. Neer is a revolutionary yet simple |
| 0:59.9 | web three platform for building decentralized apps. Designed by developers, four developers, |
| 1:04.8 | over 700 projects are now building on Neer's fast, secure, and scalable protocol. Whether |
| 1:09.7 | you're a crypto-native, launching DeFi apps, NFT marketplaces, or play-to-earned games, |
| 1:14.1 | or looking to migrate your project from Web 2, NIR makes it easy to build Web3 for the masses. |
| 1:19.6 | NIR offers developers a variety of tools, resources, and support for building apps, |
| 1:24.2 | empowering communities, and creating a more fair, inclusive, and equitable future. |
| 1:28.3 | Start your Web3 developer journey now by visiting near at neer.org. |
| 1:32.9 | All right, listen, guys, I had an easy plan for today. |
| 1:36.2 | I was going to discuss last week's jobs report. |
| 1:39.0 | It surprised economists in a big way with far more jobs added than expected. |
| 1:46.7 | 528,000 jobs to be specific, |
... |
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