The discussion on Tornado Cash is significant for the entire industry as it is the first time that the US government has imposed sanctions on a piece of software rather than an intermediary or person.
GDF represents its members and wishes to solidify a position which articulates an arisen consensus in the industry. We therefore sought guidance from our Advisory Council and wider members on how to respond to the issue at hand, both in engagement with law enforcement and supporting the industry with guidance.
This summary outlines the comments made in the roundtable. GDF will continue to engage with industry and law enforcement on sanctions compliance in crypto and digital assets in the coming weeks.