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Tornado Cash

Tornado

<div class="coinjournal">
 <ul>
  <li>zkSNACKs restricts Wasabi Wallet access for U.S. citizens and residents.</li>
  <li>Decision follows arrests of Samourai Wallet and Tornado Cash founders.</li>
  <li>Move aims to mitigate legal risks amidst regulatory scrutiny.</li>
 </ul>
 <p>In response to recent legal actions and <a rel="noopener noreferrer nofollow" title="regulatory" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> scrutiny, zkSNACKs, the <a rel="noopener noreferrer nofollow" title="developer" href="https://thebittimes.com/tag/developer.html">developer</a> behind the privacy-focused Wasabi Wallet, has decided to restrict access to its services for United States <a rel="noopener noreferrer nofollow" title="users" href="https://thebittimes.com/tag/users.html">users</a>.</p>
 <p>This move comes <a rel="noopener noreferrer nofollow" title="amidst" href="https://thebittimes.com/tag/amidst.html">amidst</a> growing <a rel="noopener noreferrer nofollow" title="concerns" href="https://thebittimes.com/tag/concerns.html">concerns</a> within the cryptocurrency community following the arrests of individuals associated with other privacy-enhancing wallet services, such as Samourai Wallet and Tornado Cash.</p>
 <h2 id="arrests-of-the-founders-of-samourai-wallet">Arrests of the founders of Samourai Wallet</h2>
 <p>The decision to block access for U.S. citizens and residents was announced in a blog update by zkSNACKs, citing recent developments involving other privacy-focused wallet services.</p>
 <p>Specifically, the arrests of the founders of Samourai Wallet on charges of money laundering, as well as the arrest of Tornado Cash co-founder Roman Storm on allegations of money laundering and sanctions violations, have raised red flags within the cryptocurrency ecosystem.</p>
 <p>These legal actions have put privacy-focused wallet developers under increased scrutiny from regulatory authorities, who are concerned about the potential misuse of these tools for illicit activities such as money laundering.</p>
 <p>While privacy-focused wallets offer <a rel="noopener noreferrer nofollow" title="users" href="https://thebittimes.com/tag/users.html">users</a> enhanced anonymity and security when transacting in cryptocurrencies, they have also attracted attention from law enforcement agencies seeking to crack down on illegal activities in the crypto space.</p>
 <p>By proactively restricting access to users from the United States, zkSNACKs aims to mitigate any potential legal risks and ensure compliance with relevant regulations.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/wasabi-wallet-developer-bars-u-s-users-amidst-regulatory-concerns-tbt86914.html">https://thebittimes.com/wasabi-wallet-developer-bars-u-s-users-amidst-regulatory-concerns-tbt86914.html</a></p>

Wasabi Wallet developer bars U.S. users amidst regulatory concerns

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TheBitTimes

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