HomeAltcoinA'suspected developer' for Tornado Cash was arrested in the Netherlands.

A’suspected developer’ for Tornado Cash was arrested in the Netherlands.

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A 29-year-old man has been detained by Dutch police because they believe he was engaged in the creation of Tornado Cash. Since the Treasury Department approved the protocol, the Tax Information and Investigation Service has been involved in the Tornado Cash story.

Authorities said the suspect had been taken before an investigating judge, however they did not confirm his identification. They said that he was detained on suspicion of using Tornado Cash to facilitate money laundering.

Since June 2022, the Dutch Financial Advanced Cyber Team has been looking into Tornado Cash, and it stated that multiple arrests “cannot be ruled out.”

The US Treasury Department’s Office of Foreign Assets Control put Tornado Cash and its smart contracts to its sanctions list on August 8; the Dutch government then made its declaration. According to a US federal agency, Tornado Cash made it possible for fraudsters to launder money.

The restriction prevents all US citizens from accessing the protocol, and it was noteworthy since it was the first time a piece of code had received official government approval.

This week’s Treasury decision was roundly condemned by the cryptocurrency community, and the repercussions have been profound. Circle, GitHub, Alchemy, Infura, and dYdX have all cooperated with the prohibition as of this writing, sparking debate over centralized weak points that conflict with decentralized crypto ethics.

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