Crypto in peril as court ruling sets a dangerous precedent
On May 14, a Dutch court sentenced Alexey Pertsev, developer of Tornado Cash, to five years in prison. This un precedent ed ruling can create a dangerous precedent for cryptocurrency and privacy development, challenging previous worldwide regulatory knowledge. In a surprising development, Alexey Pertsev was convicted of money laundering—not because he directly laundered money, but because he developed and maintained an open-source and permissionless privacy tool on Ethereum (ETH) that a minority of users allegedly used for criminal activities. Notably, the Dutch court estimates that 84% of all transactions in Tornado Cash were non-criminal, according to a report by FreedomTech . This has outraged the crypto and privacy communities, as experts warn of a dangerous precedent that could harm the industry. Picks for you Colony Lab launches a “Liquid Vesting” platform to democratize early-stage crypto investments 1 hour ago We asked ChatGPT-4o what will be XRP price ...