As consumer-facing financial institutions of all types from well-established banks to newly-launched fintechs set their 2024 regulatory compliance goals, they may wonder if their New.
Roman Storm and Roman Semenov, who co-founded Tornado Cash have been charged by the U.S. for their involvement in creating and developing this blockchain privacy tool.
Roman Storm and Roman Semenov, who co-founded Tornado Cash have been charged by the U.S. for their involvement in creating and developing this blockchain privacy tool.
Crypto advocacy group Coin Center has criticized OFAC’s indictment of two Tornado Cash developers, arguing they didn’t run an “unlicensed money transmission” because the protocol itself doesn’t fall under FinCEN’s definition of a “money transmitter.”
Americans are currently seeing a period of potentially significant change as financial technology (FinTech) companies seek to harness advances in communications, data processing, and cryptography to compete with traditional providers across a host of services. FinTech is changing how financial services are provided in a host of ways that make it possible for new competitors to compete with incumbents.1 Some of the most powerful are removing geographic limitations on where a company can offer its services, and lowering barriers to entry.