Daily Flash | Tornado_s Technology Neutrality_ Nike Ranks First in the Brand NFT Revenue List_ The SEC Believes that the Securities Law is Applicable to the Crypto Market

Today's Headline - Tornado is neutral. Is writing code just an expression?

Recently, many insiders expressed support for Tornado Cash.

On August 23, Tom Emmer, a US congressman, stated on Twitter that he had written to Janet Yellen, the US Secretary of the Treasury, about the sanctions on the virtual currency mixer Tornado Cash. He said that more and more decentralized technologies will certainly bring new challenges to accounts01797, but the technology is neutral and the expectation of privacy is normal.

On August 24, Charles Hoskinson, the founder of Cardano, spoke in support of the Tornado Cash developer who was recently arrested in the Netherlands. He stated that developers can use open-source code to write code, but they cannot control how people use the code after it is released. In most cases, code is just text, not something that the programmer tells people to do.

Charles Hoskinson further stated: "as developers, when we write code, it is just a way of expression. As long as we do not participate in the operation and use of the code, we are just writing it; it is like writing a book. Tornado Cash developers only write code that can be used in a certain way technically."

Do you think Tornado Cash should be severely punished? How to better protect privacy and prevent some services from becoming money laundering tools?

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Chart of the Day - Nike ranks first in the revenue list of brand NFT projects with $185 million

On August 23, according to Dune Analytics, Nike NFT has generated more than $185 million in revenue since its establishment, ranking first among the major brand NFT projects.

It is followed by Dolce & Gabbana ($25.65 million), Tiffany ($12.62 million), Gucci ($11.56 million), Adidas ($10.95 million), Budweiser ($5.88 million) and Time Magazine ($4.6 million).

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Influencer of the Day - US SEC Chairman: the securities law is applicable to the crypto market and will not be treated differently due to the use of different technologies

accounts71628 to the Wall Street Journal, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), there is no reason to treat the crypto market differently from other capital markets just because it uses different technologies. Even if new technologies emerge, the securities law protecting investors will continue to apply.

Gensler stated that some recent negative events in the crypto market, such as some crypto lending platforms freezing investor accounts or seeking bankruptcy protection, explain why it is important for crypto companies to comply with the securities law, and that what the crypto platform does determines what protection the law provides; Lending platforms, crypto accounts76284 and decentralized financial platforms can not avoid abiding by time tested investor protection by labeling the interests of products or commitments. In several decades of cases, the Supreme Court has clearly pointed out that according to the securities law, it is not the label "securities", but the economic reality of products, that determines whether products are securities.

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Buzzes of Yesterday - #The address balance of Ethereum miners reached the highest level in three years; #a16z believes that the downturn in the crypto market is an investment opportunity

Author: Gate.io Researcher Byron B.
This article represents only the researcher's views and does not constitute any investment advice.Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced.In all other cases, legal action will be taken due to copyright infringement.