Tornado Cash developer Alexey Pertsev was sentenced this week to 64 months in prison on charges of laundering money through the privacy platform and mixing cryptocurrencies. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
Open source software development is not a crime, defend the crypto community
📍The crypto community is defending Alexey Pertsev, after a Dutch judge found him guilty of money laundering through Tornado Cash. Pertsev was sentenced to 64 months, or 5,3 years, in prison after being charged and found guilty of laundering more than $1.200 billion through the platform.
Following the ruling, CryptoCanal founder Eléonore Blanc said she was ashamed of the Dutch court for being “blind and deaf” to technological innovation in financial privacy.
Pablo Sabbatella, head of security research at Blockfence, said it was a sad day for cryptocurrency privacy and the right to open source development. On the other hand, Joel Valenzuela, business and marketing developer at Dashpay, said that the repression towards cryptocurrencies was truly global, considering the injustice that the Dutch court is committing, by sentencing Pertsev to more than 5 years in prison for having developed an open source platform.
Ethereum fan Part of the ruling holds open source developers responsible if their projects are used for illicit activities.
Another user commented that developers of open source platforms, which represent an innovation like Tornado Cash, should follow the example of Satoshi Nakamoto, the enigmatic creator of Bitcoin who “used a pseudonym, covered his tracks and disappeared for a good reason.”
ConsenSys launches Smart Transactions on MetaMask
📍MetaMask's smart transactions will help users save on fees and protect themselves from MEV attacks. ConsenSys, the blockchain technology and Web3 services company, presented a new technology focused on optimizing the transaction experience on the Ethereum chain, with the aim of mainly reducing losses caused by transaction reversals and MEV attacks .
The new technology, called Smart Transactions, also helps users save on gas fees by automatically grouping related transactions.
The company emphasized that on-chain transaction rollbacks and MEV attacks are not a problem of MetaMask itself, but of the blockchain itself. However, he acknowledged that these problems affect users and that his teams could work on an efficient solution for them.
Vitalik Buterin presented EIP-7706
📍Ethereum improvement proposal 7706 is focused on creating a new type of gas for Ethereum call data. As Buterin noted in the proposal, the theoretical maximum size of an Ethereum block is already too large, so increasing it further is not a viable option. Instead, the network's co-founder offers create a separate rate market for call data, with a base rate and a separate block gas limit. With this, Buterin commented that the theoretical maximum size of a block's call data will be considerably reduced.
By introducing a new type of gas and modifying the base rate to accommodate this new type of call data gas, EIP-7706 seeks to improve the overall security of the blockchain, while helping to substantially reduce costs gas for call data, making the network more accessible and attractive to users.
Uniswap has traded $4.000 billion from its digital wallet app
📍The Uniswap team has celebrated a major new milestone for the popular decentralized exchange (DEX) protocol. Through X, Uniswap developers announced that the protocol has already operated $4.000 billion in asset swap volume through its digital wallet application.
This wallet app was introduced in 2023 as a development that would significantly simplify user interaction with the decentralized protocol. Uniswap Labs highlighted that this digital wallet has been adapted so that users can easily access the DEX and carry out their exchange operations or asset swaps in a secure and intuitive way. The Uniswap wallet app is available for both iOS and Android users.
The United States could move forward with a “crypto bill” to supervise digital assets
📍The FIT21 bill will be voted on in the US House of Representatives in the coming weeks. Considered the most important bill for the crypto industry, the so-called “Financial Technology and Innovation Act for the 21st Century (FITXNUMX)” aims to define the jurisdiction of US regulatory agencies over the growing digital asset market.
According to the bill, the Commodity Futures Trading Commission (CFTC) is the agency that should be responsible for the supervision and regulation of cryptocurrency projects that operate on a decentralized blockchain network. In this case, the cryptocurrencies and digital assets in question would be regulated as commodities. On the other hand, the authority of the Securities and Exchange Commission (SEC) should fall on those cryptocurrency projects that operate on a centralized blockchain, in which access to users and investors is restricted, sales are limited or impose compliance requirements.
Several experts have indicated the importance of this bill, which will be voted on by the House of Representatives, to establish a solid and, at the same time, conducive legal framework for the crypto market.
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