Overview
- The Blockchain Association filed an amicus brief to support a CoinCenter case that defends the coin mixer Tornado Cash.
- Kristin Smith, CEO of the Blockchain Association, said that punishing Tornado Cash “runs contrary to the values [the U.S.] was founded upon”.
- Marisa Tashman Coppel, Policy Counsel for the Blockchain Association argued that OFAC could not legally sanction software such as Tornado Cash.
Russia’s Rosbank Offers Cross-Border Crypto Payments
Despite a nationwide ban on cryptocurrency trading and payments in Russia, Rosbank has begun offering cross-border crypto payments services to customers. The bank is partnering with major international cryptocurrency exchanges and financial institutions to facilitate cross-border transactions using digital assets. This move signals a change in attitude towards cryptocurrencies by the Russian government as it seeks to take advantage of the potential benefits associated with blockchain technology.
Kakarot zkEVM Secures Backing from StarkWare & Vitalik Buterin
Kakarot zkEVM announced that it has secured backing from StarkWare Industries, Vitalik Buterin and other investors in its pre-seed round. Kakarot zkEVM is building a privacy-preserving platform for developers who want to use Ethereum but need privacy protection for their transactions. By providing this layer of security, developers can securely build decentralized applications without compromising user data or transaction information.
China Publishes National Blockchain Standard
The Chinese government has published its national blockchain standard which outlines how organizations should develop blockchain applications and products within China. The document provides guidance on topics such as technical requirements for blockchain networks, testing standards and security protocols among others. It also includes language encouraging innovation while ensuring compliance with regulations set out by authorities in China. This publication is expected to help bolster adoption of blockchain technology in China as well as promote its global use.
Japanese Regulators Warn OpenAI Against Collecting Sensitive Data
Japanese regulators have warned artificial intelligence (AI) firm OpenAI against collecting sensitive data from users without their consent or permission in Japan following reports that the company was collecting data without proper authorization from individuals living there. The regulatory body stated that OpenAI must comply with all relevant laws when collecting any sort of personal data from users living within Japan if it wishes to operate legally within the country’s borders.
