1/ One of the most interesting aspects of the Tornado Cash trial is trying to wrap your head around the money services business (MSB) laws and requirements.
Here is a conversation with Grok about it
2/ This part is important, the Tornado Cash team absolutely "profited" greatly.
Each of the founders had $39M worth of $TORN tokens on the day of the Axie hack.
Each of the founders cashed out $2.6M into their personal private accounts.
3/ It continues.
"the U.S. government views the operation of Tornado Cash by its founders as unlicensed money transmission"
4/ It is literally right here.
In 2019, FINCEN said that anonymizing services like mixers are MSBs - Money Service Businesses.
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