Crypto under siege

A REKT opinion piece argues that U.S. regulators, including the SEC, DOJ and Treasury, are waging an all-out assault on crypto privacy, and that the pressure is driving some projects to shut down. It cites the DOJ's case against Tornado Cash developer Roman Storm, whose trial is set for September, and the 64-month prison sentence given to Tornado Cash developer Alexey Pertsev by a Dutch court in mid-May. It also lists three projects shutting U.S. operations in just over a week: Acinq's Phoenix wallet, Wasabi Wallet's mixing service and LocalMonero, which is winding down. The piece calls the enforcement "regulation by enforcement" and urges readers to keep self-custody.